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Transfer of Equity woes

  • jenc41
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04 Sep 24 #523918 by jenc41
Topic started by jenc41
Going out of my mind a little bit. We agreed at court the family home would be transferred to me in exchange for a lump sum, which I am having to remortgage for. I was given 8 weeks to provide the lump sum and if I don't do it by 8th September then I begin to pay interest on it. My husband or his covenancing solcitors have dragged their heels, nothing has been signed with only a few days to go, they have had the forms for over a month now, and I will begin to pay interest on the lump sum as I can't pay it because the equity can't be transferred so I can't secure the new mortgage! On top of this we had an agreement that I would pay the rent on his property until the lump sum was paid at around 2k per month. I am going out of my mind a bit and don't know what to do. My own conveyancing solicitors say it is his side that is causing the delay, my divorce solicitor says we just have to wait. This is all very easy to say but it is going to cost me in the region of 3k a month whilst he doesn't sign! He is in breach of the court order as he has to sign stuff within a week but nobody seems to care about that! I am on the brink of contacting his conveyancing solicitors to yell at them but I know I can't really do but it just seems so unfair that it is costing me such a large amount of money through no fault of my own. Any advice appreciated!

  • WYSPECIAL
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04 Sep 24 #523922 by WYSPECIAL
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If the only delay is because they have not complied with the order then surely you won’t have to pay? Check the wording.
If they take you to court to get you to pay it would seem unlikely that you would be ordered to pay in the circumstances you describe.

  • EMC3419
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05 Sep 24 #523927 by EMC3419
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I'll give you a legal answer. To all intents and purposes your Consent Order is a contract. If you breach the contract and do not pay your ex's rent and the interest on the lump sum, then your ex will need to seek an equitable remedy to enforce the contract.

He won't be able to do so however. The reason is that by not signing the paperwork he has acted in bad faith and cannot go to court "with clean hands."

So I would suggest you write to him, inform him that his actions are frustrating the execution of the consent order and that he will not be able to enforce interest or payment of rent if he does not take immediate action.

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