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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.


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Changing terms of consent order

  • Ekaterine
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14 Jul 12 #343151 by Ekaterine
Topic started by Ekaterine
I have posted before about this question but after 5 months trying I am still no further on.

My Consent Order says house should be sold and assets divided. As the house hasn''t sold I have offered to buy out ex. He has agreed we have had a valuation and agreed a figure.

However for months I have beeen trying to get him to sign the form for my application for the mortgage to be transferred to my name only. He insists that he won''t sign until he has the money. There is no money due to him however as he still owes me a big lump sum as part of the order. he seems to have accepted this,but still refuses to send te form as he says he wants a formal letter from a solicitor. I didn''t want to do this as he hass messed me about so much and don''t want to pay anymore than necessary. So I wrote to his solictor setting out the agreement and a copy to him. Again he ignored the letter and finally today he said a letter from me wasn''t good enough, he wanted a formal agreement from a solicitor setting out the terms and he will sign it if he agrees and then send the form. I get the feeling I am being messed around and that he enjoys making me write to him at OW''s house and then ignoring the letters.

The final straw today was when he sent me a message overflowing with sincerity saying that I was just going to have to trust him. I laughed until I cried!

Anyway, my question is, do we really have to get a legal agreement drawn up? Surely a letter should suffice stating that we have agreed a buy out?

  • LittleMrMike
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15 Jul 12 #343191 by LittleMrMike
Reply from LittleMrMike
Normally, if you were buying him out, the procedure would be that he would sign a transfer of the house to you, but it would not be handed over until he had the money. In practice the two transactions would be contemporaneous.
That would meet his objections then, but you say he also owes you something else and if I read you right he has not paid it.
So then, assuming you are going to buy him out, does the proposed '' purchase price '' exceed what he owes you ?
LMM

  • Ekaterine
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15 Jul 12 #343195 by Ekaterine
Reply from Ekaterine
If he keeps the lump sums he owes me, plus all the endowments and I keep the house and convert the mortgage to a repayment one (thereby starting the mortgage all over again) he will still owe me a couple of thousand pounds. I don''t expect to ever see that money!

I have applied for the mortgage, sent him the form to confirm he agrees to the mortgage transfer, building soc said they would then give me formal mortgage promise and we then appoint solicitor to do the conveyancing, apply to the land registry for transfer. Only when he signs he form from land registry does ownership transfer to me.But this little argument has been going on for months!

  • hadenoughnow
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15 Jul 12 #343215 by hadenoughnow
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Have you thought about going to another lender? I didn''t need agreement from my ex when I took on the mortgage. In the end I went to a different lender to get a different rate. As I recall it, the new mortgage and conveyancing stuff all happened at the same time. The Tr1 form had to be signed before it could all happen. That asks how much money he is getting from sale.

I guess if he is mucking around, you could play it by the book and ask for your money from him first and then give it back. Do endowments need to be transferred into his name as well?

Hadenoughnow

  • Ekaterine
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15 Jul 12 #343261 by Ekaterine
Reply from Ekaterine
I did consider changing lenders but generally there is a product fee which cancels out any benefit in terms of interest rate.

It all seems a simple matter to me. Drawing up a new legal agreement just seems a total waste of money.

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