In our divorce settlement my wife was ordered to pay me a sum of money if she either remarried, sold the house or cohabited. The order states that the amount is to increase by one per cent a year. If she were to reduce her equity in the house by taking out a second mortgage, how would that affect my chances of payment?
With luck the court will have ordered that your share was to be secured by way of a legal charge against the property registered at the Land Registry. Depending on how the charge was worded, it could prevent your ex-wife taking out any further loan on the property. However if this wasn’t stated on the order it will be too late to change it now and your money could potentially be at risk. Check the terms of the court order.