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What's the name of that order which prevents house sale until children are 18?

2 replies

littlecritter · 09/08/2010 14:08

And when and how is equity split agreed? Also, who pays mortgage in the meantime? If anyone has experience of this I'd be very grateful if you could explain the basics to me. Thanks.

OP posts:
Chil1234 · 10/08/2010 19:28

I think any order to that effect would have to be something that was tailor-made, very specific, and agreed by all parties as part of the overall legal settlement. The 'normal' equity split is 50/50 in any divorce - often requiring the sale of the house unless one person can buy the other one out - but some people come to different arrangements depending on their circumstances.

You could draw up an agreement, for example, that says one party agrees to paying 100% of the mortgage and household bills going forward. The other party might agree to accepting their share of the equity at some future date but based on today's valuation.

If someone was expecting their ex to keep financing a mortgage, however, then they'd also have to expect to pay the ex out at the full market value when the property was eventually sold.

ChasingSquirrels · 10/08/2010 19:30

mesher order?

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