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Divorce & Family Law This forum is for discussing any of the legal issues involved in your divorce.

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Old 12-16-2013, 02:53 PM
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Default offer to settle confusion

Hi, I'll try to keep this as simple as possible so I don't confuse the question.

We have a joint loan of $100,000
We have a joint investment worth $55000 as collateral
We have $27,000 sitting in trust (until we agree what to do with it)

I (respondent) filed a motion to have proceeds in trust applied to loan

Her lawyer wants me to sell investment, apply to loan and then release $27K to pay down loan. It's not a terrible idea but I'll explain later.

100,000-55,000=45,000-27000=18,000 Balance owing.

I am considering filing a "Motion to Settle" on this issue but I wish the following:

Split the $27K between us (in cash)
I will take over the investment AND loan 100%
The part of the loan that belonged to her will be used towards an equalization payment (if any).

I think this is a pretty good offer. I know some will question why I would do this etc., but it's a long story.

We heard the motion but it was adjourned as I need to get more info about the loan details.

The question:

Should I (or would it be a good idea) to file a Motion to settle on this issue?

I've read all the Rule 18 details but find them a bit confusing pertaining to legal fees, costs, orders for better offers etc...

Also, if I do make this offer, another confusing issue is that it must remain confidential from the judge. How do I end up presenting it to the court?

Any info would be greatly appreciated.
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Old 12-16-2013, 05:30 PM
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Serene is on a distinguished road
Default

You can offer whatever you like. But the premise is that you each are entitled to half the debt and half the assets. How you do that is up to you both. But sounds like you are on right path.

Consider legal fees if any involved in transferring names and ownership in assets.

You give over to settle. It goes in continuing record. Trial judge only sees trial record. Offers are looked at after decisions are made and costs are being considered
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