share to the other person or a third party?If so how would they go about it please.Legal question UK, if 2 people share joint mortgage/ownership of a property is it possible to transfer their?
It is, as has been pointed out, possible to do this but it would also require the title to the property to be adjusted as well. The marriage does not affect the position at all, unless there is a court order coming from matrimonial proceedings.Legal question UK, if 2 people share joint mortgage/ownership of a property is it possible to transfer their?
The mortgage is an agreement between the people involved and the lender, with the property as security. It is legally possible to transfer the mortgage, although the usual arrangement is to cancel it and start a new one. The lender has to agree, and that's where you should start.
It is possible, the key to it is will the lender (new or old) agree.
The party taking on the mortgage has to be able to manage it as a sole case.
No comments:
Post a Comment