I have a 25% charge on property payable to my ex -
when my son reaches 21 (now 18 yrs)
I remarry (not remarried)
sell the property
vacate it for more than six months
die
At the time the charge was put on the property, I was not in a position to pay him off. When the charge was put on 8 years ago it was worth £50,000 now it almost £80,000 and I fear that I may not be able to pay him off if the charge increases. I I asked to pay him off and he refused, preferring to wait for 3 years as he hopes the charge will increase. I am now 59 years and fear that I will be paying him off around 62 when I am very near retirement. Is there anyway I can pay him off now? Should I sell now and pay him off? Someone suggested a back to back sale (i.e. sell to pay him off and buy it back????) any suggestions very welcome, thanks.
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Property/DIY
Help! Charge on property 25%
23 replies
Tulipgirl123 · 09/09/2014 22:27
OP posts:
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