Sale of house proceeds

grumiofoundation

Have you exchanged on the sale yet? 

hallam109

No it happens on the 26th

Thrugelmir

The protection of your deposit should have been dealt with at the outset with a Declaration of Trust.  Something your ex may now have found out I suspect. 

grumiofoundation

hallam109 said:

No it happens on the 26th

So is the ‘Nuclear option’ not still available? -  refuse to sell unless deposit is distributed the way you both agree to?

Edit: as below exchange not completion.

MWT

hallam109 said:

No it happens on the 26th

Earlier you said that completion was on the 26th?

Are you exchanging and completing on the same day or have you actually exchanged already?

hallam109

We have exchanged and completion on the 26th

RelievedSheff

Right so you are legally bound to complete now then so the option of refusing to sell is out of the window.

I think you have missed the boat here though and there is very little you can do now to argue the point.

Also for future reference, having a relative of your ex handle the legal side is hardly impartial. 

grumiofoundation

hallam109 said:

We have exchanged and completion on the 26th

To clarify - you have exchanged?

or you will exchange and complete on the 26th? 

hallam109

What I need to know is can a solicitor distribute the funds 50/50 even if one of the party is not in agreement with this as I have told the solicitor to hold onto all  the proceeds once the cost IE: mortgage repayment estate agent fees and solicitor fees have been paid I am not bothered if the proceeds stop with the solicitor for the next 10yrs but he is desperate for the money it’s just pisses me of that he’s been mr nice guy until the contracts have been signed 

does anyone know the law on the distribution of the proceeds if both parties can not agree 

p00hsticks

hallam109 said:

What I need to know is can a solicitor distribute the funds 50/50 even if one of the party is not in agreement with this as I have told the solicitor to hold onto all  the proceeds once the cost IE: mortgage repayment estate agent fees and solicitor fees have been paid I am not bothered if the proceeds stop with the solicitor for the next 10yrs but he is desperate for the money it’s just pisses me of that he’s been mr nice guy until the contracts have been signed 

does anyone know the law on the distribution of the proceeds if both parties can not agree 

If the property is held as joint tenants, or as tenants-in-common with a 50:50 spit (which is most usual) then I don't see that the solicitor has any option other than to split the proceeds equally.