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What happens if i dont release my interest in FMH?

  • missguided
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24 Sep 12 #357612 by missguided
Topic started by missguided
2 weeks ago stbx and I agreed verbally on finances that we were both happy with. He asked for time to run it through with his solicitor before I put the offer in writing.
2.5 weeks later I believe he has finally had the chat with his solicitor (after numerous emails and failed phone appointments that she apparently didn’t keep). She is apparently going to email me today/tomorrow – I take this to be bad news as if not believe he would have just told me its agreed.

Today I have emailed her expressing a concern at the delay(I wanted to put something in writing stating that I have been waiting on him).
He is fully aware that from tomorrow I am out of the country for a week, so will be unable to do anything on this.

I am very concerned as we have sold our FMH (in his name, but I have interest registered) and purchasers want to be in around 6weeks.
I am going to start being pressured into releasing the interest on the property despite having no financial agreement signed.
Stbx said at one point he would give me 50% of the equity to get myself sorted whilst we argue the rest so that I am able to rehouse myself (rent). If the solicitor was to hold all the money i could not afford to rent somewhere.
Our verbal agreement he was happy with was 60% (as I have our child) and then another 10% instead of SM and his pension to make it a Clean Break.
I don’t want to agree to a partial settlement as don’t want to get caught out with it being enough for my (and my sons) needs and that I have accepted it, so therefore don’t actually need anymore.

Can someone please tell me what would happen if I refuse to release my interest in property, therefore either delaying or preventing sale of our house going through (which believe you me is absolutely NOT what I want to do).
All I can think of is that he stops paying mortgage to purposely get it repossessed? What else could he do?
How would court view I have prevented this sale even though I can show I have given a reasonable offer weeks ago which would have prevented this situation?

Does anyone have any better ideas at ways around this, or do I just continue to call his bluff so he doesn’t think he can offer me a silly amount and I will be forced to take it?

Please help…….

Thanks
Miss

  • .Charles
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25 Sep 12 #357806 by .Charles
Reply from .Charles
You should not release your interest until the ink has dried on your agreement. Let us suppose that your husband is honourable, the sale proceeds, an agreement is drafted and submitted to the court but the judge refuses to make the order. What happens then?

In my mind, unless your husband''s solicitor can draft an order, obtain his signature and yours to a consent application and submit it to court, there is no way you can exchange contracts on the house. That leaves very little time to put the appropriate paperwork into place.

The worst case scenario is the property gets sold, with your cooperation, your husband disinstructs his solicitor and all of the money is released to him. He may take a trip to Vegas and spend the money before you have chance to issue an application for Ancillary Relief.

If your husband insists upon the sale, tell him that you will allow this to go through providing he gives his solicitor irrevocable instructions to hold the money to your joint order until there is a valid order (consent or otherwise) in place to distribute the monies.

Charles

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