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lump sum

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cf1964

Junior Member
What is the name of your state?What is the name of your state?NJ
Hope someone can help...it states in my divorce agreement that "as part of the wife's equitable distribution, wife will be paid a one lump sum within 60 days. If husband makes this payment then he does not have to pay alimony. In the event husband is unable to secure funding to make the one lump sum payment, then he is to pay the alimony stated. Well,first off, the 60 days are now up, he is paying me alimony (which would be deducted from the one lump sum thus far) however, he did not even attempt "to secure funding", which I know he would have no problem doing. I recently found out that he is now "securing funding" of a home equity loan to reconstruct a house he owns prior to marriage. My question is...am I entitled to that "secured funding" first before he makes any type of repairs??? The reason I signed the divorce in the first place was because I knew he would have no problem getting the loan. P.S. the alimony payments over the time he will have to pay are almost twice the amount of the one lump sum.
 


LdiJ

Senior Member
cf1964 said:
What is the name of your state?What is the name of your state?NJ
Hope someone can help...it states in my divorce agreement that "as part of the wife's equitable distribution, wife will be paid a one lump sum within 60 days. If husband makes this payment then he does not have to pay alimony. In the event husband is unable to secure funding to make the one lump sum payment, then he is to pay the alimony stated. Well,first off, the 60 days are now up, he is paying me alimony (which would be deducted from the one lump sum thus far) however, he did not even attempt "to secure funding", which I know he would have no problem doing. I recently found out that he is now "securing funding" of a home equity loan to reconstruct a house he owns prior to marriage. My question is...am I entitled to that "secured funding" first before he makes any type of repairs??? The reason I signed the divorce in the first place was because I knew he would have no problem getting the loan. P.S. the alimony payments over the time he will have to pay are almost twice the amount of the one lump sum.
Is there a reason why you need the lump sum payment? Obviously over time you are going to be collecting quite a bit more from him. Whether or not you could get a judge to order him to use the home equity loan to pay you your lump sum, depends a great deal on the structure of the loan. Consult your attorney.
 

cf1964

Junior Member
the reason I would rather the "lump sum" is for one....that is why I had signed the agreement in the first place...and two, this way I wouldn't have to deal with him anymore except for child support...this way I would be done with him and could move on with my life. :rolleyes:
 

nohr4u1yr

Member
Huh?...

cf1964 said:
the reason I would rather the "lump sum" is for one....that is why I had signed the agreement in the first place...and two, this way I wouldn't have to deal with him anymore except for child support...this way I would be done with him and could move on with my life. :rolleyes:
If you have children how in the heck would a lump sum paid to you give you the opportunity to "be done with him" and move on with your life?
 

cf1964

Junior Member
...sometimes getting the alimony from him isn't easy....the child support he gives me with no problem...(he writes me a check, it doesn't go through probation because he didn't want his job to know what he pays in alimony and child support, he has a very good job).....also having the "lump sum" would allow me to have a peace of mind knowing that my bills could be paid on time.
 

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