A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Mon/Fri 9am-6pm       Sat/Sun 2pm-6pm
Call for FREE expert advice & service info


What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Capital payment timescale

  • tinkerbell123
  • tinkerbell123's Avatar Posted by
  • Premium Member
  • Premium Member
More
04 Jul 12 #341200 by tinkerbell123
Topic started by tinkerbell123
When my house is sold I will need to make up a shortfall to my ex. Can you tell me how long I have to pay this? There is nothing about a timescale in our Separation Agreement and I have no income as am on maternity leave and have no assets against which to secure a loan.

Please advise as this is crucial to agreeing a house sale price this week.

Many thanks

  • tinkerbell123
  • tinkerbell123's Avatar Posted by
  • Premium Member
  • Premium Member
More
11 Jul 12 #342472 by tinkerbell123
Reply from tinkerbell123
Can anyone help me (before I make another stupid mistake) please :)

  • maisymoos
  • maisymoos's Avatar
  • Platinum Member
  • Platinum Member
More
11 Jul 12 #342474 by maisymoos
Reply from maisymoos
Has a sale price been agreed? Make up what shortfall? if it sells for less than the asking price or a share in the equity?

If he is to retain some equity will he not receive it from the sale?

  • tinkerbell123
  • tinkerbell123's Avatar Posted by
  • Premium Member
  • Premium Member
More
11 Jul 12 #342475 by tinkerbell123
Reply from tinkerbell123
Because of my pension( and his lack of one) I will have to owe him money which will come out of my share of equity for the house. My ex has made an offer to me for the house but it will me I have to owe him £16k which I cannot afford. I am in a rented property and have no assets over which to raise money or anything to sell.

He has threatened that if I don''t accept then he will take me to court to have a third party oversee the sale of the house and seek court costs from me - again which I can''t afford.

I thought that we should have the house revalued and it is signed over to him for whatever amount that is and then if there is a shortfall (which I doubt) then of course it is fair to pay but I really don''t think this is a fair position for me to be put in.

I feel so bullied, so alone and can''t take anymore.

  • cookie2
  • cookie2's Avatar
  • Platinum Member
  • Platinum Member
More
11 Jul 12 #342476 by cookie2
Reply from cookie2
Is the SA done under Scottish law? And do you have any divorce in progress yet? I know exactly what you should do if it''s English law but if it''s Scottish then I''ll let one of the Scottish experts take it.

  • tinkerbell123
  • tinkerbell123's Avatar Posted by
  • Premium Member
  • Premium Member
More
11 Jul 12 #342539 by tinkerbell123
Reply from tinkerbell123
It is Scottish law and we are divorced with SA in place. As much as I love Scotland, in this instance I bet I would have been better off under English law!

He has also lettered me saying that he will take me to court requesting I pay the fees and asking for a third party to oversee the sale. Why? I have done nothing but try to aid the sale by dropping the price. We have no offers because those interested are waiting for their houses to sell. He simply wants to get a bargain and a lump sum for himself and it is unfair. I will sign it over to him but not for £20,000 below its value.

What to do?

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11