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Mr and Mrs A separated in December 1998 and Mr A bought a new property as his main residence. On 21 April 1999, a consent order was agreed between them, which included an agreement that Mr A would execute a legal charge over the previous matrimonial home, which Mrs A continued to live in, as security for payment to him of a lump sum equal to 22.7% of the open market value of the property, without interest. This was payable on the happening of various events. The second charge was eventually registered on 25 May 1999.
Mr and Mrs A separated in December 1998 and Mr A bought a new property as his main residence. On 21 April 1999 a consent order was agreed between them which included an agreement that Mr A would execute a legal charge over the previous matrimonial home which Mrs A continued to live in as security for payment to him of a lump sum equal to 22.7% of the open market value of the property without interest. This was payable on the happening of various events. The second charge was eventually registered on 25 May 1999.
The value of the matrimonial home at separation would have been around £167 500 and current value is anticipated to be around £300 000 leading to an entitlement of £68 100 under the consent order and charge. It is believed that no main residence election has ever been...
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