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House is sold but no financial agreement or consent order

Posted by Itallstartshere 
House is sold but no financial agreement or consent order
January 11, 2021 08:42PM
Hello, you’ve helped before and I wondered if you can offer an opinion again.

The marital home has sold
I have the decree nisi
We are about to have the third mediation this week
We are yet to come close to reaching an agreement
If we are still mediating when the sale completes in about a month from now, what happens to the equity if we haven’t agreed in how this will be split?
Does is remain in a solicitor account? Or do we each take 50% and the negotiations continue and the monies transferred when a consent order is sealed by the court?

I wonder if we’ve been too quick to sell the house before reaching an agreement as to the distribution of the finances?
Re: House is sold but no financial agreement or consent order
January 12, 2021 05:07PM
It is probably more in your interest that the property has been sold because it is easier to divide money than it is to divide a house. If you both agree you can divide the proceeds in whatever way you wish. If you cannot agree then the money should be held in an account over which you both have control and from which one signature alone is not sufficient to effect a withdrawal.
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