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Court order

  • michelleodea@hotmail.com
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05 Mar 24 #522682 by michelleodea@hotmail.com
Topic started by michelleodea@hotmail.com
I have just received a draft court order stating I should get 100% of the proceeds To purchase a house mortgage free. I however, will need a small mortgage to purchase something more suitable with the price range I've been given. Should I get that written into the court order that I will need a small mortgage as the judge has written that I could purchase a house with the proceeds to be mortgage free. There is no timeframe Given, and my daughter is due to finish primary school next year to move to secondary school, so it does seem a shame to give her the upheaval of moving, which potentially may mean moving areas before she's finished primary school. Could I get that written in to stay until my daughter finishes primary school? Which potentially may take that long anyway to sell the house. I guess my question is, am I breaking a court order if I do get a small mortgage to purchase a more appropriate house or would I be forced to purchase a house purely with the sale proceeds? I know it sounds a silly question, but I don't want to shoot myself in the foot.

  • hadenoughnow
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06 Mar 24 #522688 by hadenoughnow
Reply from hadenoughnow
What you do with the money is up to you. The only possible issue would be if the decision to award you 100% of the equity was based on evidence that you could not get a mortgage. If that was so at the time but circumstances have changed, there should be no problem.

Hadenoughnow

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