Home Equity

[NeedAdviceAZ]

What is the name of your state?AZ
My ex got to keep the house in the divorce and is ordered to give me 10,000 plus interest when sold. He has gotten a second on the house and is saying that he will never sell so I will never get my money from the house.

My question is: Is there anything I can do to make sure he doesn't refinance again for even more money since the property values are up? I'm afraid that he will take all the value of the house and if he does ever sell won't be able to pay by then. I'm currently still paying him money for 20,000 in debt we accumulated during our marriage. I've paid off all but 6,000 (this was for credit cards etc. that he is paying)

THanks for any advice

[seniorjudge]

Q: My ex got to keep the house in the divorce and is ordered to give me 10,000 plus interest when sold. He has gotten a second on the house and is saying that he will never sell so I will never get my money from the house.

A: This violates the rule against perpetuities and this mistake is very common in judgments in this kind of lawsuit. Judges and lawyers forget their basic real property concepts. (The rule against perpetuities means that conditions that may never be fulfilled and is a no-no in American real estate law.)


Q: My question is: Is there anything I can do to make sure he doesn't refinance again for even more money since the property values are up?

A: Yes; record a certified copy of the judgment in your lawsuit in the land deed records of the county where the land is located.

Originally Posted by NeedAdviceAZ

What is the name of your state?AZ
My ex got to keep the house in the divorce and is ordered to give me 10,000 plus interest when sold. He has gotten a second on the house and is saying that he will never sell so I will never get my money from the house.

My question is: Is there anything I can do to make sure he doesn't refinance again for even more money since the property values are up? I'm afraid that he will take all the value of the house and if he does ever sell won't be able to pay by then. I'm currently still paying him money for 20,000 in debt we accumulated during our marriage. I've paid off all but 6,000 (this was for credit cards etc. that he is paying)

THanks for any advice

My response:

All you have is a lien on the house. Was the lien recorded? Are you sure he "refinanced" the home, and not an Equity Line of Credit? I'm surprised that your court orders didn't require a sale or refinance of the home, to pay your share of the community property equity. Oh, well. There's nothing you can do to force him to pay you short of his death. Presumably, your lien includes interest at the legal rate.

Who represented you?

IAAL

[NeedAdviceAZ]

unfortunatly at the time things were cordial and he just filed it , there was no dispute.

Should I take him back to court to get something else ordered or just file the papers downtown with the land department?

Thanks

[seniorjudge]

Q: Should I take him back to court to get something else ordered or just file the papers downtown with the land department?

A: Both.

Originally Posted by seniorjudge

Q: Should I take him back to court to get something else ordered or just file the papers downtown with the land department?

A: Both.

My response:

Seniorjudge, there is nothing she can do "in court." She signed the Marital Settlement Agreement and the time for Appeal, I'm sure, has long since passed.

This is why I asked my questions - - which our writer conspicuously failed to answer.

IAAL

[NeedAdviceAZ]

Originally Posted by APOLOGIZE, MARY

My response:

All you have is a lien on the house. Was the lien recorded? Are you sure he "refinanced" the home, and not an Equity Line of Credit? I'm surprised that your court orders didn't require a sale or refinance of the home, to pay your share of the community property equity. Oh, well. There's nothing you can do to force him to pay you short of his death. Presumably, your lien includes interest at the legal rate.

Who represented you?

IAAL

I said that he got a second not refinanced, I do not believe that it was recorded. Yes it does include interest. I wasn't avoiding your questions, sorry you felt this way.