Hi there Mac
The Magistrates Court themselves have issued the Judgement summons. I am self representing.
If the property was sold at current market value there would be approx. £50 residual equity remaining (once the 1st charge with the mortgage is satisfied) I however would receive 50% of that amount. Obviously I am concerned that should the 1st charge (mortgage lender) market the property then all that they would be interested in is recovery of their monies....hence it is my concern that they would sell the property at below market value for a quick sale. Can I as a second charge holder do anything to take control of sale to ensure that it raises as much capital as possible.
Obviously this could not possibly satisfy the original order of £115,000 but it is the only hope and chance I have of ever recovery some of the monies my former spouse owes.
Could I speak to the 1st Chargee and offer the 1st chargee a cash payment from my parents to purchase the property....prior to it been marketed. If so would you suggest starting at an offer slightly below the outstanding mortgage outstanding?
Please can you answer the question that I raised originally....because there has been deliberate abandonment by my former spouse and his wife (hence my monies recovered would/could be reduced) would I be able to go for her 50% beneficial interest in the property by means of a Court application to overturn her beneficial interest?
Sorry I did mean approx. £50,000...not £50!!!!
Just a couple of final questions please ....say if I recovered half of the beneficial interest of approx. £25,000 are you stating that I would still be able to continue my claim against him (because the lump sum is only partially satisfied)....bearing in mind that the majority of the debt would still remain outstanding?
My former spouse failed to pay any Court costs that were awarded (I was legally aided and fully satisfied my liability to the bill of costs...however my former spouse and his new wife have a joint liability of £23,000 of costs still not paid)
The Legal Aid board are unable to place a sub-charge on my charge on the property as the Judge made an order which would not allow this....They tried to but were legally advised that the wording of the charge on the property would not allow them to do this.
I presume that the Legal Aid Board could upon sale of the property make a claim on my ex husbands wife's monies recovered from sale to repay the outstanding costs?
If so would it be a good idea to advise theLegal Aid Board as soon as the sale completed of her capital gain?
Thank you very much