Order for sale, now threat of repossession

woozle70

Hello, I hardly know where to start but am so worried.

My husband's ex got a CCJ against my husband resulting in a charging order and now order for sale on our property. The property is jointly owned between us and the charging order is on his share of the property.

Due to property prices falling we have been unable to sell for the price the court ordered. We are now in arrears with our mortgage and have the threat of repossession hanging over us. In order to reduce our asking price on the property to avoid repossession we would need to apply to the court for permission. There would then not be enough equity in the property to clear our mortgage and for the charging order to be cleared.

When we first put the property on the market there would have been enough equity for my husband's share to pay the charging order and my share to pay off our personal loans.

What is the likelihood of the court granting permission for us to reduce the price in order to sell to avoid repossession considering the above? Also if they did allow us to reduce the price would my husband's ex have any rights over my share of the remaining equity as my husband's share would not cover the debt?

daisychain80

hello there unfortunatly can't offer any constructive advice but wish you loads of luck, just givin you a quick bump and im sure some one will be along soon to give advice. xxxx

Hawksley

Ditto the above...

MrsTinks

I can't see that she can put any demands on assets that are by law yours and not his. She sounds charming btw... :eek:

You might want to check with a solicitor just to be sure though - if the property is up for sale you might be able to speak to the solicitor handling any potential sale?

Conor_3

MrsTine wrote: »

I can't see that she can put any demands on assets that are by law yours and not his.

She isn't. It's joint ownership. She's going after his interest in the property.

woozle70

MrsTine wrote: »

I can't see that she can put any demands on assets that are by law yours and not his. She sounds charming btw... :eek:

You might want to check with a solicitor just to be sure though - if the property is up for sale you might be able to speak to the solicitor handling any potential sale?

Unfortunately the court has ordered that the ex's solicitor deales with the conveyancing (apparantly that is normal procedure with an 'order for sale'.