Transferring my 40% share to my ex husband

Discussion in 'Legal' started by Lisa 44, Apr 16, 2019.

  1. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    Hi

    I need some advice

    I went to court for my financial settlement for my divorce with my ex husband. It was agreed that I transfer my 40% shares to him as part of the negotiation. How do I do this ?

    Many thanks
     
    Posted: Apr 16, 2019 By: Lisa 44 Member since: Dec 20, 2018
    #1
  2. Clinton

    Clinton UKBF Big Shot Full Member

    3,851 1,315
    I wouldn't transfer anything as part of the negotiation!

    But if you've reached a financial settlement then it's very simple to transfer shares. You fill in a J30 form, both of you sign it and you send it to Companies House. Google J30 stock transfer form and you'll get a PDF you can download and print off.
     
    Posted: Apr 16, 2019 By: Clinton Member since: Jan 17, 2010
    #2
  3. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    Thank you

    We have settled and I’ve agreed to transfer my shares to my ex husband, but wasn’t sure how I did this
     
    Posted: Apr 16, 2019 By: Lisa 44 Member since: Dec 20, 2018
    #3
  4. billybob99

    billybob99 UKBF Regular Free Member

    756 133
    Sorry for your loss.

    R.I.P
     
    Posted: Apr 16, 2019 By: billybob99 Member since: Apr 23, 2013
    #4
  5. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    ???
     
    Posted: Apr 16, 2019 By: Lisa 44 Member since: Dec 20, 2018
    #5
  6. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    I’m h
    Im happy to transfer it, don’t want anything to do with the business!

    I’m transferring them for nothing but in return I got to keep the house.
     
    Posted: Apr 16, 2019 By: Lisa 44 Member since: Dec 20, 2018
    #6
  7. billybob99

    billybob99 UKBF Regular Free Member

    756 133
    In that case its not such a bad thing after all.
     
    Posted: Apr 16, 2019 By: billybob99 Member since: Apr 23, 2013
    #7
  8. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    I’m happy about it, but my family law solicitor said I will need a business solicitor to transfer the shares !!

    I’ve already paid out £13,500 ish for the FDR and I was hoping I’d be able to transfer the shares myself
     
    Posted: Apr 16, 2019 By: Lisa 44 Member since: Dec 20, 2018
    #8
  9. billybob99

    billybob99 UKBF Regular Free Member

    756 133
    As Clinton advised above, you just need to complete this form and send it off.

    How to Guide if you need it.
     
    Posted: Apr 16, 2019 By: billybob99 Member since: Apr 23, 2013
    #9
  10. Mr D

    Mr D UKBF Legend Free Member

    13,174 1,441
    That's quite a bit of nothing.
    Considerable value to you and presumably massive future value to him.
     
    Posted: Apr 16, 2019 By: Mr D Member since: Feb 12, 2017
    #10
  11. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0

    I agree, but we both got what we wanted !
     
    Posted: Apr 16, 2019 By: Lisa 44 Member since: Dec 20, 2018
    #11
  12. Mr D

    Mr D UKBF Legend Free Member

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    Which is the sign of the best negotiations.

    Congrats on that.
     
    Posted: Apr 16, 2019 By: Mr D Member since: Feb 12, 2017
    #12
  13. Newchodge

    Newchodge UKBF Big Shot Free Member

    11,524 2,967
    What happened to the opersonal guarantee you gave on the business loans?
     
    Posted: Apr 16, 2019 By: Newchodge Member since: Nov 8, 2012
    #13
  14. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    The court order states

    He’s got to remove me from being a guarantor ASAP and show me evidence that his done this, he has a time limit also of 12th May to complete this by otherwise he could be prosecuted for contempt of court

    He has to also remove his side of the guarantor from being secured on “my house” again by 12th May.

    There was also more to the case and the judge was absolutely disgusted with his behaviour and and how he had treated me and totally through the book at him.
     
    Posted: Apr 17, 2019 at 1:51 AM By: Lisa 44 Member since: Dec 20, 2018
    #14
  15. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    10,109 2,048
    Good for you, now you can get on with the rest of your life, enjoy it and dont dwell on the past and "if only I had" etc
     
    Posted: Apr 17, 2019 at 9:02 AM By: Chris Ashdown Member since: Dec 7, 2003
    #15
  16. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    He’s got to remove me as a guarantor by 12th May as per court order
     
    Posted: Apr 17, 2019 at 9:08 AM By: Lisa 44 Member since: Dec 20, 2018
    #16
  17. Newchodge

    Newchodge UKBF Big Shot Free Member

    11,524 2,967
    That will be interesting as only the lender can remove you as a guarantor, presumably he will have to clear the loan!
     
    Posted: Apr 17, 2019 at 9:43 AM By: Newchodge Member since: Nov 8, 2012
    #17
  18. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    Yes I’m looking forward to a lovely fresh start, no ties at all with ex husband, degree absolute should be through in the next couple of weeks.
     
    Posted: Apr 17, 2019 at 9:44 AM By: Lisa 44 Member since: Dec 20, 2018
    #18
  19. Lisa 44

    Lisa 44 UKBF Contributor Free Member

    63 0
    Yes he will. We will have to see what happens, I know the lender is reducing the overdraft by £500 a month, I think atm it’s around £5500, so it shouldn’t be too long hopefully. It was at £15000 however wasn’t at the full limit.
     
    Posted: Apr 17, 2019 at 9:46 AM By: Lisa 44 Member since: Dec 20, 2018
    #19
  20. Mr D

    Mr D UKBF Legend Free Member

    13,174 1,441
    Be interesting to see if that happens.

    Just him asking the lender to do so - not heard of that working. Paying money to do so or replacing you with someone else have been known to work.
    Then again contempt of court isn't such a bad thing these days.
     
    Posted: Apr 17, 2019 at 10:12 AM By: Mr D Member since: Feb 12, 2017
    #20