financial settlement

[karen28]

my ex husband has agree do an out of court settlement now, but has said he could leave it for another time in the future, as i dont have another property to transfer it into. The alternative is to leave it sitting in a high interest bank account, but i think Id get more out of keeping it property.

The problem is he is sick, and im concerned that if i dont take his offer now, he might have trouble in the future getting a loan to buy me out as he would be considered a high risk for a loan.

Should i take the settlement now and clear my name off the mortgage, or leave it in the property for another time in the future, when hopefully i would get a better turn out than from a building society.

Also we hold the property as tenents in common, and my ex has left a will so that the children inherit his share. That means i could end up covering the full mortgage repayments if my ex died.

Thankyou for any advice

[bednobs]

i am no financial advisor.

working on the princile of " a bird in the hand is worth 2 in the bush" i would take the money now and put it in property, especially given the precarious nature of the future (for anyone). Does he have any life insurance on the mortgage (it is usually a stipulation of taking out a mortgage) if so, i cant see how you would be liable for the mortgage if he were to die unless he has loads of other debts. How old are your children?

The other thing to consider is that all sorts of things could change in the future, he could meet someone else, your relationship could become acrimonious etc etc

[karen28]

Thanks for your advice bednobs

No my ex husband doesnt have any life insurance. I do have a teenager living there with my ex, but i think he would do the house up after hes bought me out and make a profit, or sell up anyway and move into a smaller place. My ex would be doing well if he bought me out as his offer is less than half of my share when child maintenance is included, especially if property still continues to rise.

Alternatively, i could leave the settlement for the time being and see what happens, with his health, the market, if the house is done up and value increases.

But my biggest concern is as i have said about my exs health, if it deteriorates, he might not get a loan to buy me out in the future and it could be a long time before it can be sold- he could hold out until my daughter is past 18, unless i forced a sale, and im not sure if i can do that.