b136 notice

nik_spary

I have registered a Restriction order (B136) against a property that I bought with my now ex partner. The house was purchased in his name only for £219,950 although I put £40,000 down for the deposit he put £10,000
He paid the mortgage and 18 months ago I moved out. Because the property was in his name I sought legal advice. The house went on the market and has now Sold subject to contract.
Does this mean when the sale goes through I will be paid back in full ? The house has not been sold for what is was orginally bought for it has been sold for £199,950 - there is a shortfall of £20,000
He has text me to say I will only get £10,00 to £14,000
Can he do this ?

RAS

You need a good solicitor and the cost could be well reimbursed by the extra money you receive.

Richard_Webster

In the short term you simply say that you will only lift the restriction if he pays you £40K.

His buyer's solicitors will not proceed unless they know the restriction will be lifted so that puts you in a good position short term. If he doesn't pay you what you want you don't lift the restriction. He will say that isn't fair - that's not what was agreed, etc. If you don't lift the restriction he loses his buyer.

Longer term he may decide to go to court to have the restriction removed or to get some kind of order as to how much he should pay you. That will cost him initially although if the judge goes against you you may end up paying his costs out of your share. What the court will decide depends on what you agreed - or what the court concludes you would have agreed - is there anything written down as to how the net proceeds should be split?

Likely that if there isn't anything then court will say whatever is left should be divided 40,000:10,000 so you would get 4/5ths of whatever is left after estate agents and solicitors paid. Given that he could lose the sale and there would be delay in going to court you might be able to use that as a lever to get slightly more than 4/5ths. Whether ethically and morally you should is another matter.