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My partner divorced his ex wife just over 2 years ago. I met my partner after the divorce and now live together.
As part of the settlement and to ensure the kids had stability to stay in their own home and in the same school, he agreed to continue paying the mortgage, which the CSA have agreed to as the payments are higher than the child maintenance payments.
As far as I am aware, ownership was transferred to tenants in common, but my partner does not recall a declaration of trust being drawn up.
To cut a long story short she turned nasty, restricting access to the kids, ranting, threatening and blaming, all of which we have on record and ended up getting a court order to see the kids and both attended the separated parents info programme, which the court order specifies she attended prior to the hearing. Despite attending the SPIP she continues with her negative behaviour and ignores our repeated requests to think of the kids rather than her own emotions and needs.
She now wants to buy my partner out of the house, but can only afford to do so if he surrenders his share of the equity.
We want the kids to stay in their house. Have any of you lovely wise dads transferred your share of the title of your property into the names of your kids under 18? Does this need a declaration of trust?
Hi There,
I would take some legal advice from a financial advisor, I have a feeling that anyone under the age of 18 isn't legally allowed to own property, I may be completely wrong with that though a financial advisor would be able to set you straight and give you some advice.
Another option may be to freeze his assets in the property until the children are grown up when the house could be sold to release the money at that point, your partner could then if he wanted to share this money (or give it all) with his children.
GTTS
you definitely need professional legal advice on this, as get it wrong and the consequences could be very costly. I'm pretty sure that to go from joint tenants to tenants in common would involve more than just a declaration of trust - the change would have to be registered with the land registry.
I agree with GTTS, a person under 18 can't own property as they can't enter into a contract.
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