Hi, I have a court order approved by a district judge in Sept 2010 which states that I have to either repay 15K to my ex before June 2012 in one lump sum (there is a legal charge on the property)and if I do not make the payment then the order states that the property will be placed on the market for sale on the 7th July 2012 and after discharging the mtg, estate agents fees and legal costs in relation to the sale the net proceeds will be paid out as 15k to my ex & I will get the balance.
However this is where my questions come in!
When the house is placed on the market in July & eventually sold after paying all of the above the net proceeds will probably amount to no more than 3k. I don''t have a solicitor as i cannot afford one but would like to please know if anyone can advise as to what my position is legally if I can only pay my ex 3k after the sale of the house.
No where in the order does it state anything about what happens if the sale of the property fails to generate the 15k which is to be paid to my ex.
The only text that i didn''t understand was "There be liberty to apply as to the implementation and timing of the terms of this order"
Any advice or help would be much appreciated, thanks in advance