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I suppose it depends on what is practicable in the circumstances.
It is certainly possible for the Court to make a lump sum order which is
such that you have to increase your borrowing to pay it. But it will do
this only if satisfied you can raise the mortgage in the first place and
afford the increased payments.
On the issue of time limits, a
Court must have regard to what is practical. If you need to raise a
mortgage, you would have to be given enough time to apply for it and
complete the legal formalities.
A Court can always order
property to be sold to pay a lump sum ; for example if the house is larger
than the housing needs of the parties require, one spouse could be ordered
to sell and pay some of the proceeds to the other spouse. But it would be
unlikely to do this if the effect would be to make one spouse homeless.
Or a Court could simply order payment of a lump sum and leave it up
to the payer how (s)he will raise the cash.
LMM
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