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consent order

  • kal20
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3 years 2 months ago #496499 by kal20
consent order was created by kal20
Hi

My ex husband and I divorced 3 years ago and the terms of the consent order stated that the property shall not be put on the market earlier then September 2020 unless we agreed in writing to sell earlier and the property division is 60/40 in my favour. I now want to sell the property 3 years early and I am happy to split 50/50 to compensate the loss my ex husband will incur by selling sooner then agreed.

Has anyone ever done this or know if we can do this - thanks

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  • jonathancj
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3 years 2 months ago #496507 by jonathancj
Replied by jonathancj on topic Re:consent order
Who is actually occupying the property?

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  • kal20
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3 years 2 months ago #496510 by kal20
Replied by kal20 on topic Re:consent order
I live in the property. We agreed not to sell until 2020 to allow youngest son to finish uni before moving but i now want to move home - thanks

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3 years 2 months ago #496513 by jonathancj
Replied by jonathancj on topic Re:consent order
I don't really see why you need to offer an incentive to your ex to agree an earlier sale. He will be getting his share of the money three years earlier, after all.

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3 years 2 months ago #496517 by kal20
Replied by kal20 on topic Re:consent order
He would prefer to sell in 2020 and achieve a higher sale price. He has taken on a part interest only mortgage and wants to pay it off in 2021 (he has a fixed rate and will incur a fee if it pays it earlier), the current sale price will leave @ £20k shortfall on his mortgage which if we didn't sell until 2020 he would more than likely achieve.

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3 years 2 months ago #496522 by WYSPECIAL
Replied by WYSPECIAL on topic Re:consent order
How much equity will you be splitting now and what is the increased figure in three years in based on?

The speculation seems to be that the equity will increase by £50k so his share will increase by £20k.

How much money would he get now that he could invest for three years?

How much is the early repayment fee and how much interest would he pay over the next three years?

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