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Buying my partner out of property - over fixed period

Hello.

My ex-partner has stated that they will only accept my petition for divorce if they get 50% of my pension and 50% of the equity in the home once it is sold. (I have no problem with this).

However, my ex wants to sell immediately to have access to the equity.

I am neither in a position to remortgage, because of my credit rating, or to sell because I will struggle to rent a property suitable for when I have our children (3 children, I have them each week, every other weekend and some school holidays).

I would like to offer to buy my ex out of the property over a 4 year period at a set amount per month.

Do you know if there is a mechanism for doing this? And, should my ex challenge it, would the court consider my offer a suitable one? Is this what a consent order is for?

Thank you in advance.

C.Lomas at 30.11.2020 17:45:34

Views: 947

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