If I buy a house after I separate, does my wife own half of it?

S

steadstill

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A semi-theoretical question here, If I was separated with no separation agreement, and since separation I purchased a house to live in. I know my wife would technically own half the house, but where would that be realized. E.g. would I have to make some sort of a payment / is it conceivable I could be thrown out of the house / I heard it would probably take effect if I ever went to sell the house?
 
"I'm assuming - going by what I am told!"

Talk to a family law solicitor. They will talk you through the process. They will suggest that you should be formalising your separation before you start dissipating your assets or using funds that may be assets in your marriage.

If you are not a cash purchaser, it is extremely unlikely that you would get a mortgage until the terms of your separation were formalised and until it was clear that you could actually fund a mortgage in your own name.

mf
 
"it is extremely unlikely that you would get a mortgage until the terms of your separation were formalised"

Well that seems pretty cut and dry
 
Not a new requirement, there was always an issue there with an unfinished separation, most banks will not lend in a single name to part of a couple for a house that is to be used as a family home (different for BTLs). Therefore if there is not a clear agreement in place it is difficult if not impossible to get a mortgage in one name only.
 
So the banks take a different view if the separated person wants to buy to live in versus buy purely as an investment?
 
Yes because a family home is protected under law, buy to let is not.
 
Interesting, it appears to make sense literally but not in context. In the case where a single spouse has or will purchase a house after the separation (for their own use), it would on the face of it appear the law offers more protection in the buy as a home scenario, thus making this a less risky investment for the bank than buy to let.
 
Bank just don't want to be tied up in any messy claims from ex spouse when it is sorted so policy usually says all must agreements must be done and dusted before new mortgages in sole names.
 
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