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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10773
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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my ex has 35% beneficial interest in my property. I want to

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my ex has 35% beneficial interest in my property.
I want to sell my house and he wants 35% of the selling price.
The courts say he has net proceeds, what does this mean?
I thought it was the money left in equity, which is allot different. Could you advise me who is right please? Stephanie

Stephanie and thanks Just Answer.

My name is ***** ***** am happy to assist you with your enquiry.

You are indeed correct- "net proceeds" means whatever monies are left over and due to you from the sale. ie after deduction of your Estate Agents, Solicitors fees and any Mortgage that needs to be paid off.

(If the Order had said your ex is entitled to 35% of the GROSS proceeds, this would have equated to 35% of the Sale price).

I hope this clarifies matters , and the Solicitor acting in the Sale will wish to see a copy of the Order, and no doubt will also be able to confirm the above to you.

If I can be of any further assistance, please let me know.

Kind Regards


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