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Read our latest Financial Settlements guide (2021) 

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.

Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.

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by payment of lump sum and/or charge back.

  • topaz
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23 Nov 07 #7427 by topaz
Topic started by topaz
my sol has written the above under my order sought on my E form. There are other bits down as well which I understand but the charge back I'm not sure.Does it mean if I get the house but don't have enough money to pay him off initially I can owe it to him in the future(within a set time limit) or what?

  • LittleMrMike
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23 Nov 07 #7434 by LittleMrMike
Reply from LittleMrMike
Without knowing the details, I would say that your solicitor is probably wanting to keep his options at this stage as open and flexible as possible. I don't see anything particularly wrong with this.

A charge back is an arrangement whereby one party is awarded property ( typically, the marital home ) and the other spouse has a charge on the property which becomes realisable on the happening of certain specified triggering events, such as the re-marriage of the spouse who has the property, or dependent children reaching 18.

I think you've got the general idea but can't comment any further without full knowledge of the circumstances.

Mike 100468

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