Non-compliance Separation Agreement

[helpimhosed]

What is the name of your state (only U.S. law)? Colorado

My X has not completed one of the key components in our Separtation Agreement. Here is how the agreement reads:

Real Property

The Husband and Wife agree that the marital residence located at XXXX, Aurora Colorado shall be the sole and separate property of the Wife. Wife agrees to indemnify and hold harmless the Husband therefrom. Wife agrees to refinance the marital residence with (90) days of the date of the Decree of Legal Separation. Husband shall convey his interest therein to the Wife by Special Warranty Deed upon approval by the Court of this Agreement. Husband agrees to bring the mortgage payment on the marital residence current by April 1, 2008; moreover, Husband agrees that the mortgage will be current at the time of transfer of the marital residence to Wife, via Special Warranty Deed.

It has been 9 months since the Court entered a Decree of Legal Separation. The mortgage was current on April 1, 2008, and is current today.

She attempted to assume the loan but was denied back in Sept 2008 (and there is substancial equity in the home). She has not attempted to refinance the loan. I am the only person currently on the loan, however she is on the title with me. This poses a large financial risk to me- if she is late paying the mortgage, it affects my credit. If she stops paying, I cannot make the payments.

Questions: 1. Was I supposed to do a Special Warranty Deed before she secured financing to take over the home? I assumed that the Special Warranty would be the last thing to take place. 2. With the home still on my credit, It is limiting my ability to purchase another home for myself. What can I do legaly to enforce the aggreement?
3. Since she has not complied, will it void the whole agreement?
4. What should I do?

 

[mistoffolees]

Questions: 1. Was I supposed to do a Special Warranty Deed before she secured financing to take over the home? I assumed that the Special Warranty would be the last thing to take place. 2. With the home still on my credit, It is limiting my ability to purchase another home for myself. What can I do legaly to enforce the aggreement?
3. Since she has not complied, will it void the whole agreement?
4. What should I do?

1. Ordinarily, you wouldn't transfer the deed until your name is off the mortgage. Otherwise, you could be held liable for the mortgage but not get any equity. HOWEVER, the wording of your decree seems to say that you were to have transferred the deed at the time of the decree. I would go back to court and ask for a modification saying that you don't have to transfer the deed until your name is off the mortgage. That should be readily granted.
2. You can not force a bank to refinance her. Rather, you can go back to court and ask the judge to order the home sold since she has not refinanced.
3. No.
4. See above.