Step 1: Decide What Will Happen to the Property

Options:
- **Sell to a third party** – proceeds are split as agreed or decided by court.
- **One party buys out the other (Transfer of Equity)** – ownership changes to one person.
- **Keep the property jointly for now** – sometimes until children reach a certain age.

If you cannot agree, try mediation. If that fails, the court can order a sale.

Timeframe: 3–6 months (contested cases 9–12+ months). Cost: Court application ~£300 + legal fees.

Step 2: Check Ownership

Check the title deed to confirm who legally owns the property. If more than one owner, ensure all agree to the route chosen.

Step 3: Choose How to Sell (or Transfer)

Sale/transfer routes with pros and cons:
- **Estate agent sale** – Wide marketing, likely higher price, typical 8–14 weeks.
- **Online estate agent** – Lower fee, less local expertise.
- **Auction** – Fast sale but often lower price; fees apply.
- **Private sale** – Direct to buyer; will save fees, guaranteed buyer and be a fast sale

Step 4: Buyout Process (Transfer of Equity)

If one party wants to keep the property:
1. Get a valuation.
2. Agree the buyout price.
3. Secure funding (remortgage, savings, other loan).
4. Legal transfer via solicitor.
5. Register the change with the Land Registry.

The lender must approve affordability for the remaining borrower. If affordability fails, consider selling instead.

Step 5: Decide How to Split the Proceeds

You can agree informally or through a court settlement. Courts consider housing needs, contributions, and debts.

Step 6: Negative Equity Considerations

If the sale price will not cover the mortgage and costs, you have negative equity. In this case, you must agree with your lender on how to clear the shortfall. Options include paying the shortfall from savings, arranging a repayment plan, or selling with lender consent.

Step 7: List and Complete the Sale

Typical sale process: List → Accept offer → Conveyancing → Repay mortgage → Split proceeds.