Selling house to my husband

uli84

How do I go about selling my house to my husband? (No divorce involved) the house has no mortgage and is in my name. Does anybody know? He doesn’t have lump sum to cover the purchase, will he get a mortgage?

karlitob

https://www.boards.ie/discussion/2058336444/selling-house-to-my-husband

What a question!!

Why would he buy a house that he already partially owns if no divorce involved? Are ye separating? Are you staying in the home? Are there kids involved?

Trigger Happy

There is nothing to stop this happening. He would need to go to a bank and apply for a mortgage.

You would both need solicitors - different ones. He would need to get all the usual surveys done.

You can do the sale without involving an estate agent. But he will have to pay stamp duty if needed.

uli84

Right ok, thanks, guess I will have to speak to the solicitor to figure the details of the “private sale” and buying “half of the house” out.

RoboRat

It's an odd request and I'm sure if he went about getting a loan, it would raise a lot of eyebrows unless you can offer a reasonable explanation such as separation.

Patrick2010

2 years ago you were looking to buy an apartment because you couldn't afford a house, what changed?, inheritance?

Kaisr Sose

You say 'selling my house' and then 'half of the house'

Will you still own half ?

skallywag

Is it really such as odd request?

Let's say my wife inherits a house from a relation. She has no interest in owning it, or covering the costs to maintain it, etc. I decide that I am interested, perhaps to use it for rental income. Hence I buy it from her. We are both financially independent, managing our own finances separately, with a join account for household expenses etc. (which is v common today).

uli84

https://www.boards.ie/discussion/comment/121775661#Comment_121775661

I was looking at buying a 2nd house/apartment 2 years ago. The one I am looking to sell was bought long time ago.

karlitob

https://www.boards.ie/discussion/comment/121775675#Comment_121775675

I’m no expert (which doesn’t stop me from commenting of course) but he would still be legally entitled to part of that house and that inheritance as a married person.

From the banks perspective they’re being asked to give a loan to a man to buy a house he currently resides in and has a legal right to (however partial and on the presumption that he paid or contributes to the mortgage if you previously had one) with no collateral in the form of cash but only the house itself that he lives in with his wife, to buy it off his wife, who lives in the house (I presume this of course) and who has the deeds of the house in her name (yet doesn’t have exclusive legal right to sell without his consent) so that the deeds transfer from her name to his, where she still retains a legal right to the house as the new deed owners spouse. You don’t say what ages you are but you might hitting 50 if you have a house in your name only and there’s no mortgage but this is just a guess. It’s not for divorce, it doesn’t seem to be for separation. What is the bank to think? Especially when you say ‘buy half the house out’ when originally it was to sell the house to them. It’s an odd request to say the least without more information. No bank would go near it unless they can make a profit with little risk. This has risk

I think you had better speak with a solicitor who’s expert in conveyancing and property matters. If you’re going through separation I suggest you speak with a family mediator who will help you with your asset division.

skallywag

Some interesting points there. Agreed, if the OP and husband both currently reside in said house, and it is not a different property, then is indeed an oodd one.

uli84

Thanks for the above, I guess we can call it separation as I intend to buy a different house and eventually live in it.

artanevilla

https://www.boards.ie/discussion/comment/121776017#Comment_121776017

So you want to remain married and live in two houses as a seperated couple is that correct?

Technically he "owns" half of the 1st house already and would "own" half the cash he pays you for it (his own house).

Would the best option not to be take a joint mortgage over the 2nd house?

ELM327

As a married couple he cannot get a mortgage for the marital/family home.

Without a mortgage, You could transfer the deeds and he could transfer the cash no issue but in all reality it's a pointless transaction because in the event of a divorce, everything will be likely halved anyway

ec18

he won't get a mortgage because he is likely already entitled to half of the property in question. it's not clear if this is you martial home that you are living in or if it's a property you have inherited before you were married? Either way it sounds like you firstly need some legal advice about what your husband already 'owns' a share in as a results of being married. And then likely an accountant to do the financial and tax implications of it. The house being in your name may or may not matter.

If you are planning on separating that is possibly a whole other complication and would definitely require some legal advice as your husband probably doesn't actually need to do anything to have a share in the house in question.

karlitob

OP - if you plan to separate; you’re not alone nor are you the only one who has gone through this.

https://www.citizensinformation.ie/en/birth-family-relationships/problems-in-marriages-and-other-relationships/property-rights-and-the-breakdown-of-a-cohabiting-relationship/

See info from Citizens Advice above. I would suggest you contact a Family Mediation Service - this is bread and butter to them; they’re there to help; and they do more family home in terms of separation. Any agreement you reach can be checked by solicitors so you won’t lose out on legal rights.

Best of luck. Not easy for you both.

Furze99

https://www.boards.ie/discussion/comment/121775675#Comment_121775675

But that's not the reality - you can have all the separate finances you want. But if you are married, what's hers is yours and what's yours is hers!!

You're just engaging in a book keeping exercise to separate out your joint assets. But they remain joint assets.

witchgirl26

So in Ireland if you bought the house before marriage (so solely in your name) & you both didn't live there, it may remain a non-marital asset & your husband wouldn't have necessarily any rights over it so you could potentially sell half to them in theory. However if you've both lived in it since marriage, it becomes a defacto marital asset in most cases and therefore your husband already has a legal entitlement to it. No bank is going to give a mortgage on a house that has that.

If you want to "sell" your husband a share in the house & he doesn't need a loan for it, then he could give you the money & it would be exempt from CAT as it is between a husband & wife.

Claw Hammer

Marrying someoine does not vest a home in the non owning spouise. It gives them a veto over any disposition of an interest in it, either by sale, mortgage, lease or other wise.

the only thing that can be done in the circumstances here is for the property to be put in joint names and mortgaged. The spouses can then decide what to do with the money borrowed.