Divorce - Second Charge on Property

hex2

Does anyone have any experience of selling a second charge held on an ex-partners property? The final clause states that after six months the charge can be sold or transferred.

The charge falls due late next year anyway but it has already been indicated that it will not be paid leaving us with no choice but to persue via county court. Former partner can afford to pay and we can prove it. We do not want to do this after three years of legal dispute already and wondered if we could sell it to someone? Factor or debt collector or something?

Any experience of enforcing a second charge via county court would help as well.

Thanks

Bossyboots

I don't know about selling the charge but I know a few people who had to enforce it through the court and all were successful. It is of little matter whether the former partner can afford to pay it off, if they can't (and provided the settlement documents were done correctly) it has to be sold.

hex2

The other party thinks that they go back to court and re-argue the clean break settlement. I think it is clean cut enforceable debt. Second charge done via solicitors and court so should be straightforward. Also clearly stated in original court order.

Bossyboots

hex2 wrote:

The other party thinks that they go back to court and re-argue the clean break settlement. I think it is clean cut enforceable debt. Second charge done via solicitors and court so should be straightforward. Also clearly stated in original court order.

No, they can't argue a clean break settlement. Thats exactly what it is and the court would be very unhappy if a party seeks to go back on it. The dictum is that they would have known when this eventuality was going to arise and should have done something about it. The only way this would happen is if it was grossly unfair to one party but the court should not have allowed it to go through if that was the case and if it was agreed through solicitors then they don't have a leg to stand on. Also, it should have a clause specifically preventing future claims from the date of decree absolute anyway.

mrsdee

hex2 wrote:

Does anyone have any experience of selling a second charge held on an ex-partners property? The final clause states that after six months the charge can be sold or transferred.

The charge falls due late next year anyway but it has already been indicated that it will not be paid leaving us with no choice but to persue via county court. Former partner can afford to pay and we can prove it. We do not want to do this after three years of legal dispute already and wondered if we could sell it to someone? Factor or debt collector or something?

Any experience of enforcing a second charge via county court would help as well.

Thanks

Dont even think about debt collector or factor - you will end up losing out on what is rightfully yours.

Bossyboots is right - it doesnt matter whether the other party indicates they wont or cannot pay - they have to by law. A clean break is a clean break and both parties would have understood this at the time of the agreement. Unfortunately what happens is that the party sitting in the property gets used to the idea over time of that property being "theirs". When it comes to payback time they have to adhere to the law, and if they cannot afford, then the property must be sold. I hope you enjoy the money once you get it next year!