Matrimonial Splits

How would you identify if the sale is subject to a Matrimonial split? Select all that apply

• Clients may have different correspondence addresses on their paperwork

• There could be a Consent order on file

• Through conversations with the clients

• Clients may have asked for sale proceeds to go to one account only

How would you proceed differently with a Matrimonial Split compared to a normal sale? Select all that apply

• Distribute all sale proceeds as per the Consent Order (if one is in place)

• Update both clients equally

• Make sure both clients agree to replies to sale enquiries

• Call the clients upon receipt of their signed documents

• Ask if there are Matrimonial Solicitors involved

When checking a Consent Order what information are you looking for? Select all that apply

• Do they have a certified copy of the Consent Order or the original?

• Do you have a full copy. Count the pages

• Check who the respondent and the applicant is

• Make sure the address relates to the sale

• Look for the Order for Sale as to how the sale proceeds are to be distributed

At what stage of the Conveyancing process should all the financial agreements be in place by?

• Completion

• Before Exchange

• 1 day before Completion

• Following completion of the sale

If there is no Consent Order in place and the sale is amicable, what would you need to distribute the sale proceeds? Select all that apply

• Signed letter from both clients confirming how the sale proceeds should be split

• Split the sale proceeds 50/50

• Send the sale proceeds to one party only

• Ask both clients to sign a copy of the Financial Statement agreeing to the distribution of proceeds

• Bank statement and bank details confirmed in writing

If a client is unhappy as to how the Sale Proceeds are to be split, or is contesting this, how would you proceed?

• Proceed to Exchange and Completion

• As long as one client agrees, that is ok

• Direct the client to their Matrimonial solicitors for advice. We can not advise