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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.


Financial settlement (Caveat)

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20 Jun 07 #894 by themindboggles
Topic started by themindboggles
My mad ex has come back with yet another bonkers settlement of a figure with a caveat attached to it. Can anyone enlighten me, I have an rough idea but b4 i get to solicitor i would appreciate some clarification.

TY in advance!!

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20 Jun 07 #898 by wikivorce team
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TMB,

Your not giving us much to go on!! Could you be a little clearer - what is your actual question?

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20 Jun 07 #899 by themindboggles
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ex came back with counter proposals saying wants and extra 12% on sale of FMH than i offered but there is caveat on exes offer being that exes share shouldnt fall below a certain amount of money. The thing is there are serious arrears building up on FMH and wondered if anyone knew what this CAVEAT means in legal terms.

TY

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20 Jun 07 #900 by wikivorce team
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I interpret that it means that your ex wants your offer plus 12% of the proceeds from selling the home.

But to protect them from the home being sold for to low a value - they are stating that the minimum cash they want is X pounds.

You need to work out what the minimum sale price would have to be to generate the required X pounds (based on your offer plus 12%).

Are you confident that the house will sell for at least that much? If not then you might want to get this caveat removed.

Are the terms clear about this minimum X amount being after all costs of sale have been deducted (cos it could cost a fair amount in agency fees, homebuyers pack etc)?

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20 Jun 07 #901 by themindboggles
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Hi thanks for your reply, i was just about to post that ive just researched this and it is as i thought.

If i agreed with exes demands and signed a Consent Order to the effect of the caveat before our final hearing and FMH sold for less than the amount then i would have a court order against me to pay ex £XXXXX the mortgage and of course my costs so far and i doubt that after sale there will be near that amount. Very clever of my ex but im not that silly.... ex would be quids in and i would be in debt so that offer is a no go!!

Very cunning i feel though!!

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