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Quick Sale of FMH needed
#1
I've been living in the FMH after we had separated just over a year ago.  I've continued making the mortgage payments in full and my ex has refused to contribute.  The issue is that the ex has relocated and I have in turn followed suit to be closer to the kids and to ensure the court order can be continued to be followed.  Her relocation was out of malice purely to obstruct my weekday contact which currently is 2 weekday nights every week, my relocation has thwarted her schemes. 

The question I have is that I can no longer continue making mortgage payments on the FMH as well as the payments on my new accommodation.  I'm in receipt of 3 valuations from estate agents and really need to get the house on the market however, my ex is hell bent on full disclosure and negotiations, I don't have an issue with that but financial proceedings can go on for months and in the meantime, their is a joint mortgage liability that needs to be paid. 

Am I able to notify the ex that I am intending on putting the FMH on the market and any proceeds will be kept in a Holding Bank Account so that they can be accounted for during the financial settlement?  Not sure of my options here.
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#2
I'm probably stating the obvious but there may be couple of relevant points to your case...

when parties separate, the finance settlement is done thru one or combination of the options..

1) family based arrangements where 2 parties sit and sort their finances, agreement and consent order (weeks to months)
2) Mediation, agreement and consent order. Mediator normally asks to fill in a version of Form E, essentially a disclosure from both parties ( weeks to months)
3) Solicitor arranged settlement. Solicitor again might ask for disclosure before they can advise what is the best settlement options (weeks to months)
4) Court settlement when one party initiates the application for financial relief where disclosure becomes mandatory but with the provision for parties to still come to an agreement until the final hearing (months to years)

In my case all 1,2,3 failed. Successful at 4 FDR when court badge heads together to come to an agreement. In terms of timelines although I saved about 2 -3 months not going to the final hearing, it still took entire year to reach settlement and finally decree absolute !
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#3
Thanks -
Ex has refused point 1.

I have suggested point 2 (mediation) to allow full disclosure.

Her solicitor is pressuring us to follow point 3 as it will be in her solicitors benefit. I have thus far refused and been focussing on concluding child arrangements first as the kids are most important in all this

point 4 - hopefully it won't go there but if it does, the amount of equity (once you take off debts) is negligible and not worth the costs of going to court. I've made it clear that I cannot meet future mortgage liabilities each month and thus, it's in the ex's best interests not to drag this out via court proceedings as the house maybe taken out of the pot altogether if the mortgage is not paid.
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#4
(06-24-2019, 12:48 PM)Leader1978 Wrote: I've been living in the FMH after we had separated just over a year ago.  I've continued making the mortgage payments in full and my ex has refused to contribute.  The issue is that the ex has relocated and I have in turn followed suit to be closer to the kids and to ensure the court order can be continued to be followed.  Her relocation was out of malice purely to obstruct my weekday contact which currently is 2 weekday nights every week, my relocation has thwarted her schemes. 

The question I have is that I can no longer continue making mortgage payments on the FMH as well as the payments on my new accommodation.  I'm in receipt of 3 valuations from estate agents and really need to get the house on the market however, my ex is hell bent on full disclosure and negotiations, I don't have an issue with that but financial proceedings can go on for months and in the meantime, their is a joint mortgage liability that needs to be paid. 

Am I able to notify the ex that I am intending on putting the FMH on the market and any proceeds will be kept in a Holding Bank Account so that they can be accounted for during the financial settlement?  Not sure of my options here.

Your ex could, if she was being a pain, reject the estate agent valuations as being too high/low and insist that a single joint expert (SJE) be appointed to give an independent valuation. 

That said, I wasn't in a position where the FMH necessarily needed to be sold or where both parties had moved out of it, so I can't really comment on your specific case.
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