Q&As

An order for sale has been made by consent, with the net proceeds to be divided in accordance with the terms of the order. At the time the order was made, party A did not think they could remortgage the property in order to pay a lump sum to party B. They have now been approved for a remortgage, and will be able to pay the same amount to party B as under the terms of the order. Can party A make an application under section 24A(1) of the Matrimonial Causes Act 1973 to vary the terms of the order for sale, so that the property is sold to them instead of a third party? The parties have received an offer on the property and party B wishes to proceed with the sale to a third party. So long as party A can show that they have a mortgage offer, and that they can complete quickly, is there any reason why the court would reject their application?

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Produced in partnership with Chris Bryden of 4 King’s Bench Walk
Published on LexisPSL on 26/09/2018

The following Family Q&A Produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:

  • An order for sale has been made by consent, with the net proceeds to be divided in accordance with the terms of the order. At the time the order was made, party A did not think they could remortgage the property in order to pay a lump sum to party B. They have now been approved for a remortgage, and will be able to pay the same amount to party B as under the terms of the order. Can party A make an application under section 24A(1) of the Matrimonial Causes Act 1973 to vary the terms of the order for sale, so that the property is sold to them instead of a third party? The parties have received an offer on the property and party B wishes to proceed with the sale to a third party. So long as party A can show that they have a mortgage offer, and that they can complete quickly, is there any reason why the court would reject their application?

The Matrimonial Causes Act 1973 (MCA 1973) provides the court with wide-ranging powers to make orders relating to matrimonial property on the breakdown of a marriage. These powers include transferring property between parties or the making of lump sum payments. Often, where the main asset is the family home, this will lead to an order that that property is sold and the proceeds of sale divided between the parties. MCA 1973, s 24A gives the court the power, where an order has been made, to order the sale of any property together with consequential or supplementary provisions. Those provisions are widely framed, with the court having the power to make such orders as it thinks fit (MCA 1973, s 24A(2)), which may specifically include a provision requiring any such property to be offered for sale to a person or class of person

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