House offer accepted but divorce is not finalised, panicing

[UhOhSpagettiOh]

Does it matter? I just want to get on with it. Ex is willing to transfer the deposit money to me as soon as I need it for my new mortgage.

You need to explain a bit more about the situation.

Your question is does it matter? The question is how much your are risking by doing this. Which no one can answer unless we know more.

The risk you are taking is that you have not established if the deposit money is yours alone yet. This might have a number of consequences. First of all, your ex might say yeah sure take 50%. But when he speaks to his solicitor he is told not to do this and that the money must be retained until you have a settlement agreement. He could ignore this or accept it.

How far apart are you in reaching agreement? Have you settled things bar the paperwork or are you still negotiating? This would inform how risky it is to proceed with the assumption you will get the deposit.

Is it a fair agreement? Could a judge throw it out and advise your ex to get advice on a better deal? Again this could mean the money you used for your deposit isn’t “yours”.

These are just a few of the risks involved in doing what you suggest. I have no idea how probable they are or whether they would be impactful if they happened.

I am not even sure how you could have applied for a mortgage without having the deposit in place.

It is very risky as Ex could suddenly refuse to sign the contracts at the end so it all rests on how amenable and eager he is as well.

Ex is willing to transfer the deposit money to me as soon as I need it for my new mortgage.
Surely it would be the conveyancing solicitor who would transfer it, not Ex.

I am in the process of buying/selling before divorce and I am absolutely bricking it. Ex so far has been okay providing he doesn't have to do anything but that could change if I dare disagree about anything at all. It's really doing my MH in as in my case the divorce was delayed due to ex refusing to do paperwork... I've had to fill in most of his Form E, and print his stuff out ... yep, I am not allowed to say no. If I want it, I do it 🙄

How eager is yours to get this all done? How trustworthy is he?

Very confused. Why would the house sale money go to your ex? Is the house his alone? If it’s shared then the conveyancer will transfer half to you and half to him.

One of my friends is in a similar situation; the marital home is in her Stbx's name and she has home rights registered with the Land Registry.

The house was put on the market in anticipation of divorce and the sale is due to complete. The divorce is acrimonious and will probably go to a final hearing. After much wrangling, it's been agreed she will release her home rights to enable the sale to complete on condition the whole proceeds of sale will be held on account by the conveyancing solicitors until there's a Final Order stamped by the court - and the conveyancing solicitors have given a "wet signature" Undertaking to this effect.

This is a "high value" divorce, but Undertakings have as much clout as Court Orders in terms of enforcement and could be a way forward to protect your position.

If things are reasonably amicable and your ex is genuinely willing to transfer the money he should understand your reasoning. It's possible he will feel insulted and say you don't trust him, but one way or the other even the most friendly divorces turn can nasty over finances.

Sorry house offer accepted for me to buy a house and move out.

The deposit money I am using is my ex's inheritance money. Which is the equivalent to about 60% of the equity in our house...which he will then keep.

It's amicable and we have agreed finances.

@Pixiedust1234 I trust him. I'm just worried about the legal side of it. Like will my purchase solicitor say oh well you can't do it until the final bit of divorce is done. Or will they be OK with it since my ex is agreeing to sending me the money for the deposit.

Sorry to hear you are having a tough time with yours. I hope it gets easier.