1. Whilst in theory you could have to sell your house and declare bankruptcy if the very very worst happened in litigation over the covenant, you are better off simply purchase legal costs insurance in advance of the litigation whereby the insurerosts will pay all legal costs awarded against you if you loose. In this way, you can seek to enforce the restrictive covenant but you will be protected against teh worst happening if the litigation goes very badly against you. This is the method whereby you handle the risk of loss should you loose the litigation. Legal costs insurance simply insures against the risk of legal costs being awarded against you if you loose an application for injunctive relief on the covenant and an award of costs is made against you personally. In this way you insulate your house and any assets you have against the risk of loss of the legal action. Finally, there is no risk of you being sent to prison merely because you owe legal costs.
insurerosts can you tell me what this means
would i be protecting my house by signing it over to my wife
can you give me some idea where i could get the insurance and thanks for your answer
dear Buachaill thanks for your excellent answer. i can do you a little favour. 'lose' not loose . loose is the opposite to tight
2. I am sorry the "insurerosts" should just read "insurer will pay all legal costs awarded against you". Sorry for this typing error. Secondly, whilst you can protect your house by signing it over to your wife, this is going to extreme lengths to protect it. Thirdly, you should speak with any Lloyd's of London insurance broker for they will be able to arrange cover for legal costs insurance. This is a much used product and is generally available. Finally, thanks for correcting my English. I appreciate I need to lose the use of loose!
thanks and god bless. what do u do about paying you the 31 pounds
can you suggest a less extreme method of protecting my house than signing it over to my wife
should be what do I do about the money fee
thanks very much. i tired to get the insurance cover that you suggetsed and the the only thing they could come up with is something called ATE
the premiums are massive and well beyond my means
thanks again colin
how many questions am i allowed i think i have used up my £31
just one more
Attachments are only available to registered users.
what would i have to do to make my wife sole owners of our house.
the deeds are with our mortgage provider
i havent a clue as what to do
i was wondering could i employ you on a professional basis to help me with my case.
i intend to defend my covenant myself but i may need advice on the way.
obviously i would pay your proffessional rate for any work you do.
for example could you do the conveyancing on transfering my bungalow to my wife? if so, would you beable to give some guidance as to the cost.
i would pay you upfront before you do the work or i could pay you immediatly afterwards, whatever suits you.
thanks any way