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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #1  
Old 10-22-2019, 04:34 PM
backinthesaddle backinthesaddle is offline
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Default Equalization and buyout

My ex wants to keep the matrimonial home. I am good with that but I am owed money for equalization and the only way that is financially feasible is if I take the payout in a year in order for him to remortgage in a year with the equity. If this is written in the agreement and he refuses to pay in year what is my recourse? Has anyone done this?
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Old 10-22-2019, 04:59 PM
rockscan rockscan is offline
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Default Equalization and buyout

My husbands ex had to pay a second installment a few years after their divorce. There is no recourse. Depending on the amount you could get a small claims court judgement for it and then file for enforcement but even then it is not guaranteed. She paid him but there was a great deal of vitriol over it. He should have taken it at the split date and not waited. All it did was rehash old anger with the kids. The only reason she paid was because she filed a court action shortly after and needed to look good.

I recommend not agreeing to it. You are entitled to that money and if your ex is allowed to keep the asset whole it simply takes away from what you are owed. Yes it will cause animosity and yes perhaps he will have to sell but if cannot afford the asset or to split it then he should not hold onto it. You have the potential to lose your portion of it.
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Old 10-23-2019, 09:52 AM
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Janus Janus is offline
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Just brainstorming here, is it possible to get a lien on the house as part of the agreement?
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Old 10-23-2019, 10:33 AM
rockscan rockscan is offline
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Quote:
Originally Posted by Janus View Post
Just brainstorming here, is it possible to get a lien on the house as part of the agreement?


Husband’s lawyer said no to us. He said to never make this kind of deal as it is unenforceable.
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