Hello all, I separated from my wife in late 2007. At the time we separated, we had a car on which money was owing. I was the principal borrower on the loan, and my ex-wife was a co-debtor/co-signor.
Ex-wife asked me to pay out the loan so she could buy a house with her share of the equity in the matrimonial home, because unless the loan was discharged, none of the mortgage lenders she approached would grant her a mortgage.
As a result of my paying out the loan, I did not have enough money to make a down payment on a condo. I ended up having to go into a zero-down arrangement to buy the condo - which I think was a mistake on my part.
This arrangement was not recorded in a separation agreement. In fact, my ex-wife has consistently refused to sign or even talk about a separation agreement.
Could I make a claim against my ex-wife for half of the value of the loan, given that she was a co-debtor? We didn't make any attempt to sell the car, because I needed transportation, no time was available to sell it, and I was not willing to sustain a shortfall on the sale of the vehicle, since there was more owing on the loan than the car was worth.
Ex-wife asked me to pay out the loan so she could buy a house with her share of the equity in the matrimonial home, because unless the loan was discharged, none of the mortgage lenders she approached would grant her a mortgage.
As a result of my paying out the loan, I did not have enough money to make a down payment on a condo. I ended up having to go into a zero-down arrangement to buy the condo - which I think was a mistake on my part.
This arrangement was not recorded in a separation agreement. In fact, my ex-wife has consistently refused to sign or even talk about a separation agreement.
Could I make a claim against my ex-wife for half of the value of the loan, given that she was a co-debtor? We didn't make any attempt to sell the car, because I needed transportation, no time was available to sell it, and I was not willing to sustain a shortfall on the sale of the vehicle, since there was more owing on the loan than the car was worth.
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