I'm in a similar situation with the 'Best endeavour clause'. I was divorced in 2010 and we made a mutual agreement concerning the finances. We have two houses, one abroad and the other here in the UK. For personal reasons, I agree to keep the house abroad and my ex the house in the UK. In the Consent Order, he was told to try his endeavour best to release me from the mortgages.
Fast forward 2021, 11 years after:
-I have remarried
-My name is still on the mortgage
-He still lives in the property
-Property over £30,000 in arrears ( combination of both mortgages)
-Suspended order before Covid
-Ex refuse to sell
-I have applied to the court to have the order vary ( force a sale)
So you can all imagine, the status of my credit file!!!!!
Do you think, after sale, I'm entitle to half since he has not released me?
Thank you for our response.
The order was not well written at all. There is no clause that indemnifies me against arrears and a default, no order for sale.
There is no end date. It says that I am to transfer all my legal and equitable interest in the property within 56 days. He has to transfer all his legal and equitable interest in the overseas property.
It also states that has to use his best endeavours to release me from any obligation I have under the mortgages.
I am not trying to vary the order.
I'm going through a Declaration of Trust it reads like this:
that they will at all times indemnify the other and their estate and effects in relation to any costs claims liabilities or demands placed upon them as a result of any entries of an adverse financial nature being noted secured or registered against the title to the Property.
Thanks for this Djsmith. Unfortunately, Consent Order made in 2010.
I have a court hearing in June and hopefully, the property will be placed on the market soon, before repossession.
This is so stressful.
I am in a similar boat but on the opposite. I am ordered to sell or remortgage in October 2021. I was made redundant due to pandemic and only now found a job which is half of what I used to earn. The lender won’t allow me to remortgage in my own name. My ex is very well off financial and has managed to buy a property of his own just few months ago whilst on the mortgage with me.
I want to ask the court to vary my order and extend for 2 years and allow me to get back on my feet to be able to remortgage. Have 3 kids under age 18.
what are my chances the court will allow?