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Topic:
% charge on the family home (4 Posts)
Started By:
Date:
24 October, 2017 03:04PM
% charge on the family home
karen9764 - 24 October, 2017 03:04PM
Once a consent order has been drawn up and everything is finalised,detailing the %split and the trigger points etc,
would we need to return to court in the event that i may be able to pay off hubby sooner than our child reaching the age of 18 if the amount is less than the % originaly agreed to on the consent order,if hubby is prepared to accept it.
Re: % charge on the family home
davidterry - 25 October, 2017 01:37PM
It is not normally necessary to return to court in such an event. The main issue is usually agreeing the value of the property and the costs of sale. Once those are agreed most people are only too happy to get their money early. If, say, wife says the property is worth £100K and the husband says it is worth £200K then the plan doesn't work but all that happens is that the husband has to wait for the trigger event. If you want to pay off early the reality is that the amount due must be agreed or a method agreed by which the amount can be established.
Re: % charge on the family home
karen9764 - 25 October, 2017 03:00PM
Thank you davidterry for that information.

The reason for my question is hubby knows I can raise xxx amount of cash but it would not be enough to satisfy a judge that the split was fair. So hubby is saying once the consent order is in place he will then be able to accept the cash I can raise therefore be paid off earlier,which is what he wants.

He is saying we would not need to go back to court to do this and that it can be dealt with by a solicitor.

Is this a possibility ?
Re: % charge on the family home
davidterry - 26 October, 2017 09:30AM
It is possible, yes.
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