Solicitors who deal with property sales please help?

[sneezecakesmum]

If an unmarried couple who had seperated had to sell their house because the mortgage term was ended and neither could afford to buy the other out or to remortgage, how would the equity in the house be divided if there was no court order on the property.

The house is held in joint tenancy

There is a 16 yo child resident at the property in FT education.

Would the solicitor hold the money in trust until the parties could agree on fair distribution. Or until a court decided on the distribution?

Would the solicitor just pay each party their half share?

(The case is currently stalled in the courts and between the solicitors involved, but the extension on the mortgage runs out in under 4 months).

They'd have to find a buyer first! In your brother's situation none of it would be distributed unless they both agreed how to distribute the whole.

Cheers....thought as much. I dont think mutual agreement is an option lol. The court case has been postponed at the exPs request (now theres a surprise) at a cost of £1500 down the legal drain. She now has a solicitor who may talk some sense into her and get an agreement without this nonsense going back to court.

Hopefully if they agree or the court decides for them the mortgage company will hold off repossession and allow a sale to go through. The price is 20K less than similar houses so hope they do get a buyer! What a palaver

yes given there is a court case (even if stalled) the money woudl be held by solciitors until distribution resolved. are properties selling where they house is?

Reasonably well cestlavieliefe, and as its to be offered at a lower price, we hope it gets sold. Just need the Ex to agree to sell (frankly no choice) or a court to order it.

At lease we can rest assured she wont just run off with all the dough