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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 and Transfer of Property

  • dominoo
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11 Jun 12 #336197 by dominoo
Topic started by dominoo
Hi
I have to give my ex a lump sum on a set date as instructed by the Court Order. I would like to send a cheque via registered delivery. Would this be acceptable?
He also owes me a small amount of money which the solicitor seems to be holding on to re sale of shares. Is it acceptable for me to reduce the amount of the chq by the amount of the share value which I am entitled to?
Once he receives the chq he will then provide authority to release his name from the deeds of the former matrimonial home, however I need his authority to surrender a life policy to pay off the mortgage and then give him the remaining funds. This will then mean I can get the deeds from the building society, close the joint mortgage account and engage a solicitor to sort this out. Can you just confirm I am doing things the right way round please. I am struggling to get the authority from his via his solicitor as I do not contact the ex direct.Could I use the Court Order to send to the Building Society for authority.
Many thanks

  • Hamilton1
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12 Jun 12 #336218 by Hamilton1
Reply from Hamilton1
Dont Do it!!

The best way to do this is to instruct solicitors to complete the transfer of equity and only after yor solicitor has an undertaking from your husband''s solicitor to release the transfer to your sole name should you transfer the money to them on a set ''completion date''.This process will also take care of the release from the policy and repayment of the mortgage.

Once all the relevant undertakings are in place the solicitors should provide a completion statement. I.e he will receive lump sum + his share of the equity less sum owed to you for shares. You will receive your share of the equity + monies owed to you for shares.

Hope that helps.

H

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12 Jun 12 #336260 by dominoo
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Hi
Not quite what you mean ''don''t do it'' - I am a bit worried. I don''t have a solicitor and was not going to engage one until the mortgage was redeemed with proceeds from life policy whereupon I would just be invlolving solicitor and not building society (less costs hopefully). Should I have engaged a solicitor now or is it too late? The monies need to go by the 20th June?? May be too late already. What happens if I miss the deadline?

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