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Original poster

Any legal or solicitor type people, do you think this is fair?

34 replies

mrsmike · 19/10/2007 15:11

Several years ago I separated from my ex. Myself and 2 children remained in our jointly owned house. We had an agreement that after 5 years the house would get sold and I would give him his half of the money. The 5 years is now up, the house has been for sale for 6 months but not yet sold. Today I received a letter from his solicitor asking for me to agree to paying him interest (bank base rate what ever that is ...) on his share of the money that he would have got already, if the house had sold. Is this to be expected? Thanks for any advice

OP posts:

fedupwasherwoman · 19/10/2007 15:18

Would have thought that this was unreasonable.

"his money" just like your sahre too is still tied up in the house and potentially increasing in value in line with house prices so he can't have his cake and eat it ifyswim.

It's not your fault that the house hasn't sold yet (or is it ?)

Carmenere · 19/10/2007 15:20

No he is chancing his arm. However is there a reason that the house is not selling? This sounds like it could be his solicitor trying to encourage you to get your skates on re the sale. Is that a possibility?

Original poster

mrsmike · 19/10/2007 15:21

Well the front door could perhaps do with a coat of paint ...
thank you for your thoughts
My first reaction on reading the letter was Shock and How Dare He but then I started thinking .... ummmm.... does he have a point?

OP posts:

Original poster

mrsmike · 19/10/2007 15:25

Have just reduced the price by 10k so I am trying!

OP posts:

Original poster

mrsmike · 19/10/2007 15:49

Oh come on, someone else make me feel better and tell me I'm right and he's wrong

OP posts:

karen999 · 19/10/2007 16:31

Hi, when you say you had an agreement, was this a written agreement? ie, like a minute of agreement??

Surfermum · 19/10/2007 16:38

Unreasonable if he's been fully involved with getting it put on the market, agreeing the sale price and the marketing of it. Is he worried that prices might fall? Does he think you're deliberately dragging your heels about it?

Freckle · 19/10/2007 16:50

I would write back along the lines of:

"Thank you so much for your letter. I can assure you that I am doing everything in my poewer, without any input or assistance from your client, to ensure the quick and smooth sale of this property. In fact, in order that your client need not lose out on any interest he may feel is due to him, I have instructed the agents to reduce the asking price by £10,000. I'm sure this will meet with your client's approval as he is more likely to receive his share of the proceeds promptly in this way.

As a matter of interest (excuse the pun), could you please let me have a copy of any agreement which shows that your client is due any interest on his share and how that interest is to be calculated? I thank you so much."

I'm sure he'd rather lose his share of £10,000 than any interest he might consider is his .

Original poster

mrsmike · 19/10/2007 19:31

We have a written (and legally binding? not sure how it works) separation agreement drawn up by solicitors stating this.

He has played no part in organising the sale of the house, hasn't wanted anything to do with it.

Freckle I like your letter, am trying to think along those lines. He has lived in rented accommodation for the last 6 years, and I tend to feel sorry for him as he hasn't got his money, but must keep business like about this.

OP posts:

ArmadilloDaMan · 19/10/2007 19:37

You could write him a letter stating you will pay the interest as long as he pays the same amount of interest to you for the same reasons

Original poster

mrsmike · 19/10/2007 19:43

That's a good way of thinking Armadillo. You are right, I want the money too ... never thought of it like that.

OP posts:

Broon313 · 19/10/2007 19:44

I am scottish solicitor, so can only advise on what law is up here, but if you have an agreement drawn up by lawyers and signed and witnessed, then what it says goes. On the other hand, I think he's at it, and would not pay out!

ProfessorGrammaticus · 19/10/2007 19:46

You need to check the separation agreement. If it provides for this then you may be stuck with it. If it doesn't, tell him to bog off!

Original poster

mrsmike · 19/10/2007 20:03

The agreement says this "Mr X shall transfer all his estate and interest to Ms X subject to a first charge in favour of Mr X for an amount equivalent to 50% of the proceeds of the sale of the property. In the event that the property is not sold an amount equal to 50% of the amount that a surveyor appointed by the parties jointly in default of agreement to be appointed by the President for the time being of the Royal Institute of Chartered Surveyors, shall certify as the open market value of the property. Mr X shall not enforce this charge for a period of 5 years from the date of this agreement."

Sorry, what a ramble. Does this shed any light?
Ashamed to say I have not looked at the agreement in any detail

OP posts:

ProfessorGrammaticus · 19/10/2007 20:07

Yes - if that's all it says. There would need to be a specific clause for him to be entitled to interest.

HTH

ProfessorGrammaticus · 19/10/2007 20:08

Was the house never transferred to you as the agreement says then? You said in your OP that it is jointly owned still?

irishbird · 19/10/2007 20:11

This reply has been deleted

Message withdrawn at poster's request.

Original poster

mrsmike · 19/10/2007 20:11

Yes the house was transferred to me. But as you can tell I still think of it as "our house". Don't really understand that long sentence from the agreement ... what does that bit mean following on from "in the event the property is not sold ..."

OP posts:

Original poster

mrsmike · 19/10/2007 20:13

Have made an appointment with solicitor!
Def need things explained.

OP posts:

irishbird · 19/10/2007 20:17

This reply has been deleted

Message withdrawn at poster's request.

Original poster

mrsmike · 19/10/2007 20:24

Thanks irishbird, that does sort of make sense. I'd always understood it to mean he had 50% of the sale price when the 5 years were up, would be great if it was the other way round. Will check this out with solicitor. Mind you the house wasn't valued when this agreement was put together.

OP posts:

ruddynorah · 19/10/2007 20:27

he was due his money by a deadline of 5 years from the agreement being signed. it isn't his problem, as such, that you haven't sold the house. the agreement says he is due 50% of the value of the house, regardless of whether you have sold it or not.

ProfessorGrammaticus · 19/10/2007 20:45

Usually in England it is % of value at time of sale - if it were the value at the time of the agreement there would be a figure in the charge rather than a percentage.

Agree that other terms in the agreement may be relevant to other issues though.

Original poster

mrsmike · 19/10/2007 20:46

Yes this is the scenario that I am feeling a bit bothered about.

OP posts:

Tortington · 19/10/2007 20:48

who is paying you the interest that YOU are not getting

it doesn't make sense - tell him to fuck off - hes getting half - why want more than half?

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