Spouse refuses to pay share for discharging a joint account

[Tbaga]

We have a joint home equity line of credit, but now I want to close it. To do so we need to pay to the bank a discharge fee (~$400-500). The ex refused to pay off part of the discharge fee. The title of the house, against which the home equity is based, was already transferred to my EX; I no longer own the house. Eventhoug, I no longer own the house, the bank still does not want to remove my name from the HELOC. What can I do to get out from this trap?

[standing on the sidelines]

We have a joint home equity line of credit, but now I want to close it. To do so we need to pay to the bank a discharge fee (~$400-500). The ex refused to pay off part of the discharge fee. The title of the house, against which the home equity is based, was already transferred to my EX; I no longer own the house. Eventhoug, I no longer own the house, the bank still does not want to remove my name from the HELOC. What can I do to get out from this trap?

on another post you said you had a separation agreement. Why was this not taken care of when that was done? It should of been a condition that when the title was transferred that the line of credit was closed.

You may have to end up biting the bullet and just pay it yourself.

[Tbaga]

on another post you said you had a separation agreement. Why was this not taken care of when that was done? It should of been a condition that when the title was transferred that the line of credit was closed.

You may have to end up biting the bullet and just pay it yourself.

The SA has clauses requiring the heloc balance to be zero on signing day, which was the case, and that must be closed on or before house title transfer. The latter was agreed to be done by ex before house transfer, and ex told me it was done, but was not in reality. First non compliance with SA by the ex. When found out I asked that be closed immediately as per SA, but ex refuses to pay part of the discharge cost. So, as you said, I have to bite the bullet and pay the entire fee and close it. Thx.

[standing on the sidelines]

The SA has clauses requiring the heloc balance to be zero on signing day, which was the case, and that must be closed on or before house title transfer. The latter was agreed to be done by ex before house transfer, and ex told me it was done, but was not in reality. First non compliance with SA by the ex. When found out I asked that be closed immediately as per SA, but ex refuses to pay part of the discharge cost. So, as you said, I have to bite the bullet and pay the entire fee and close it. Thx.

oh wow, that isnt good. I know its too late but I would of called the bank to make sure instead of taking the exs word for it.

I would send a letter to her lawyer stating that she did not do it and see what happens.

I wonder if this is something that you can take to small claims court? You have an agreement. This is strictly financial and pretty well cut and dry. She is responsible for half the cost.

In the end, sometimes its just easier to pay it and get it done. Have you checked the balance to make sure she hasnt run it up?

[Tbaga]

oh wow, that isnt good. I know its too late but I would of called the bank to make sure instead of taking the exs word for it.

I would send a letter to her lawyer stating that she did not do it and see what happens.

I wonder if this is something that you can take to small claims court? You have an agreement. This is strictly financial and pretty well cut and dry. She is responsible for half the cost.

In the end, sometimes its just easier to pay it and get it done. Have you checked the balance to make sure she hasnt run it up?

Yes I checked with the bank and the balance remains zero. The SA has very strict clauses regarding any of us incurring debt on the other after the SA signed. But also I managed to convince the bank to freeze the heloc until it is settled.

The other thing that I don't understand is how come the bank does not like to simply remove my name of the heloc, especially that I personally don't have a collateral.

[standing on the sidelines]

Yes I checked with the bank and the balance remains zero. The SA has very strict clauses regarding any of us incurring debt on the other after the SA signed. But also I managed to convince the bank to freeze the heloc until it is settled.

The other thing that I don't understand is how come the bank does not like to simply remove my name of the heloc, especially that I personally don't have a collateral.

Probably because that account has to to be closed and she open another one just under her name. The banks like to nickle and dime us to death. Its a wonder that if its a line of credit backed by the house that she didnt have to take care of that before transferring title.


I would talk to the bank manager and find out more details.