Husband won't sign the TR1 to let me buy him out

Sfox494

Has anyone any experience of what route to go down with this? Basic facts:

• Separated and all proceedings have gone through court
• Part of the financial settlement is that I give him 40k and that is his equity so he will have no claim on the house
• I've arranged a re-mortgage into my name with the extra £40k to pay him, however they cant complete until the TR1 is signed by him
• He is refusing to sign until he has his £40k
• Once he has his £40k he will sign the paperwork within 20 days he says

I've checked the court order and it says: 

1. The respondent (me) shall pay to the applicant the sum of £40k by 1st July
2. The applicant (ex) shall transfer to the respondent all his legal estate and beneficial interest in the home within 20 days of receipt of lump sum payment.

If the above conditions aren't met then the house goes up for sale. The only way i can pay is to remortgage but it feels like I'm being forced to sell based on the 2 points above? Any decent human would probably say "sure I'll sign the paperwork to get this fiasco over with so we can both move on" as it's court ordered I need to give him the money either way!

Thoughts or anyone who has had a similar situation?

Savvy_Sue

Well, it looks as if he is sticking to the letter of the order.

Any chance you can borrow £40K, to be repaid from the mortgage?

Sfox494

Savvy_Sue said:

Well, it looks as if he is sticking to the letter of the order.

Any chance you can borrow £40K, to be repaid from the mortgage?

Very unlikely as I only have a small support circle and they arent in a position to. I doubt a bank will lend me enough to cover it.

Thrugelmir

Have you spoken to the solicitor involved in your divorce? 

Sfox494

Thrugelmir said:

Have you spoken to the solicitor involved in your divorce? 

Yes, he said my ex will have to sign it or we go back to court. But the way the order reads I wasnt sure the court would be on my side 

HampshireH

The order says he signs after he is paid. He is correct.

Seems a bit backwards to be honest. But it was agreed by all in court presumably?

Therefore if it's in dispute now you would need to go back

T.T.D

1. The respondent (me) shall pay to the applicant the sum of £40k by 1st July
2. The applicant (ex) shall transfer to the respondent all his legal estate and beneficial interest in the home within 20 days of receipt of lump sum payment.

On point 1. Surely when in negations you informed your solicitor your not in a financial position to buy him out directly BEFORE a mortgage is obtained? If you did, why did your solicitor not pick up on terminology used in the order? why did you not pick up on this until now?

Your not in a position to fulfil the court order of 40k by 1st July, you agreed point 3. To sell if you could not fulfil it.

Your not being “forced to sell” you agreed the terms in which you were to buy him out, he’s holding firm in those terms as he has no obligation to do you any favours. 

Perhaps discuss with your solicitor an application to vary the order, but I’m doubtful you’d succeed with the terms you agreed to, it’s simple for judge to see that, you either give 40k and he signs it over or you both sell, coming to the court to ask to circumvent those terms are unlikely to succeed. But it’s worth a discussion with your solicitor because it’s dependent on what you said in court and negotiating with his side.

TBagpuss

Foes he have a solicitor? The wording of the order is really odd - normally everything would happen simultaneously, s with any other sale/purchase, and on a practical level, this would typically be on the basis that he would sign the paperwork and it would be held by the solicitor, who would give undertakings to pay the lump sum, the same way as when you buy a property from a third party.

Why was the order drafted that way? were there other savings or capital that it was expected the £40K would be paid from? 
 It may be that you need to apply back to court - the order probably has a provision for 'liberty to apply' here you can ask the judge to determine how the order should be interpreted / implemented.

Of course, if the house goes on the market then you can offer to buy from you & him.

Sfox494

TBagpuss said:

Foes he have a solicitor? The wording of the order is really odd - normally everything would happen simultaneously, s with any other sale/purchase, and on a practical level, this would typically be on the basis that he would sign the paperwork and it would be held by the solicitor, who would give undertakings to pay the lump sum, the same way as when you buy a property from a third party.

Why was the order drafted that way? were there other savings or capital that it was expected the £40K would be paid from? 
 It may be that you need to apply back to court - the order probably has a provision for 'liberty to apply' here you can ask the judge to determine how the order should be interpreted / implemented.

Of course, if the house goes on the market then you can offer to buy from you & him.

Yeah there was a small amount of savings but nothing near the 40k. I think going back to court will be my only option