Charge on Property

spidercrab

Hello. Don’t know if I’m on the right thread but couldn’t figure out which one to post on! Anyway, my query is regarding my property. I have a charge on my house in favour of my ex husband where I will give him a certain amount of money when I sell the house. The house and mortgage are in my name. This is a goodwill gesture and not regarding any money I owe him. However, he passed away recently leaving very large debts - he had no money and no property of his own. My question now is could I be forced to sell my house to pay off his debts? Please only answer this if you know the answer as I’ve had so many people speculating over the last few weeks. Thanks.

davidmcn

None of us will know the answer, because we haven't seen whatever you had agreed at the time. If the money is only due "when you sell the house", then that's when you need to pay it, not earlier. The fact his estate has debts isn't relevant.

xylophone

Who is the executor of his estate?

You need to check with your solicitor whether the benefit of the charging order passes to his estate?

If you owed him nothing, why did you permit a charge to be placed against your property?

spidercrab

Thanks for your prompt response. I agreed to sell the property when our children left home. They are adults but still very much living here. Does that mean I’m safe or could I be made to pay his debts when I do sell?

spidercrab

I agreed to put a charge on the property as it was our family home. We were divorced over 20 years ago and he paid nothing towards the house since he left. I wanted to take over the mortgage and knew that it would be easier to do this if I offered to give him money when it was sold. He was happy with this arrangement.

davidmcn

spidercrab wrote: »

Thanks for your prompt response. I agreed to sell the property when our children left home. They are adults but still very much living here. Does that mean I’m safe or could I be made to pay his debts when I do sell?

Unless anything else was agreed, your debt is an asset of his estate so would still be repayable when originally intended. If the estate is insolvent then the funds would go towards the estate's debts in the first instance. They don't become your debts, if that's what you're asking.

Mojisola

spidercrab wrote: »

I agreed to sell the property when our children left home. They are adults but still very much living here.

Is that exactly what the charge on your property says? No mention of the children reaching certain ages?

spidercrab

The charge had no time limit. My worry is that as davidmcn says, it’s considered his asset and I don’t want to be forced to sell my house.

davidmcn

spidercrab wrote: »

The charge had no time limit. My worry is that as davidmcn says, it’s considered his asset and I don’t want to be forced to sell my house.

But if you haven't previously agreed that he could force you to sell your house then that won't happen. Putting it bluntly, the fact he's dead doesn't change anything about the arrangement.

00ec25

spidercrab wrote: »

]Please only answer this if you know the answer as I’ve had so many people speculating over the last few weeks.

then PAY for LEGAL ADVICE since no one on here can read the exact words written down as your agreement or know what other other terms you may have agreed

the rest IS speculation

eddddy

To put it simply.... read the charge

That will answer your questions.

It could say many things. Possibilities include:

• If the charge says the money is payable on your ex-husband's death - it's payable now

• If the charge says the money is payable when your children reach 18 - it's payable now (because you seem to be saying they are over 18)

• If the charge says the money is payable when your children leave home - it's not payable yet

• If the charge says the money is payable when you sell the house - it's not payable yet.

• If the charge says the money is not payable if your ex-husband dies - then it will now never be payable