Husband wants payoff

[heathergodwin]

Mississippi

My husband decided that he would accept a payoff of 25,000.00 to leave our home. He wants to file for a no - fault divorce. Do I have to sign the papers? Can he force me to divorce him and take the money anyway? I have been the only income provider for the past 18 years except for when he sold a home for 160,000.00. We have a home together which he does not care about and wants to leave. I really want to keep the home and can't afford to buy him out. What are my options?

 

[nextwife]

You may want to grab the offer and run. With such a long term marriage, he'd likely be entitled to spousal support AND half of all assets and debts accrued during the marriage.

 

[mistoffolees]

You may want to grab the offer and run. With such a long term marriage, he'd likely be entitled to spousal support AND half of all assets and debts accrued during the marriage.

That could be a huge mistake. You can agree to it, but don't transfer the money until you have the agreement signed off and finalized by the court.

If she simply gives him the money (even if he has an agreement signed in blood and notarized by the Queen of England), he can still ask for alimony and half of the assets when it goes before the judge.

NEVER consider something final until the court approves it. And never transfer money without a court order until that happens.

 

[nextwife]

Well, of course I did not mean it in the literal sense.

My point is that entering into a property settlement such as described as the ONLY payment to her STBX, as a part of her divorce decree, may cost well less than she might otherwise find herself exposed to.

 

[mistoffolees]

Well, of course I did not mean it in the literal sense.

My point is that entering into a property settlement such as described as the ONLY payment to her STBX, as a part of her divorce decree, may cost well less than she might otherwise find herself exposed to.

I agree with that. However, if her stbx gets an attorney involved, the attorney may well explain that the agreement isn't in his best interest.

 

[LdiJ]

Mississippi

My husband decided that he would accept a payoff of 25,000.00 to leave our home. He wants to file for a no - fault divorce. Do I have to sign the papers? Can he force me to divorce him and take the money anyway? I have been the only income provider for the past 18 years except for when he sold a home for 160,000.00. We have a home together which he does not care about and wants to leave. I really want to keep the home and can't afford to buy him out. What are my options?

You either have to refi the house for enough to cover any existing mortgage and buyout of his share of the equity, or you have to sell the home and split the proceeds. Those are the only two choices as far as the house is concerned.

 

[Ohiogal]

$25000? How much in assets are there? How much equity in the home? How much property is owned outright? How much in everyone's retirement accounts that accrued during the marriage? Those numbers matter. If it is more than $50k buy him out. If it is not more than $50k then it may be better to fight him on it.