Debt Payoff

[keithw]

I am a life long Ohio resident. I filed for a dissolution and we both signed and filed the paperwork in April of 08. The final court hearing was June 4, 08. She has never worked and doesn't plan to ever work. She gets child support for 8 more years and spousal support for 6 years or until she re-marries. The agreement is that I will make the house payment and her car payment up until the time the house sells. The house will go to auction if it doesn't sell by July. The proceeds from the house will pay off all debt then the balance will be split 50/50.

My question, is can I deduct her half of the house payment that I have been making and all of her car payments from her half of the net assets upon sale of the house? Basically, take the balance due on all debt as of either April or June and THAT is the amount that we each owe half of? The dissolution paperwork doesn't say that I can nor does it say that I can't.

 

[tuffbrk]

Based on the limited verbiage you have provided, which clearly is not the legal verbiage in your agreement I'd have to say no you cannot.

The agreement says that YOU will make the payments. Period. It doesn't say that you are advancing the payments to be repaid to you upon the sale of the home. It doesn't say that you are to reimbursed costs first and then net proceeds from the home are split 50/50.

On the other hand, you are paraphrasing the verbiage so who knows.

BTW - you should ask all of your questions in one post.

 

[Zigner]

Honestly, it sounds to me like you can't do it. You are to use the proceeds to pay off the marital debts as they stand when the house is sold. You were not ordered to pay her half of the payments...you were ordered to make the payments period. She isn't responsible for any of them.

EDIT:
tuffbrk beat me to it this time!