If in my divorce I was deeded the home and am supposed to buy my ex-husband out but can’t, what happens?
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If in my divorce I was deeded the home and am supposed to buy my ex-husband out but can’t, what happens?
If I sell it and get less than what I am supposed to pay, do I have to make him payments on the balance? My divorce was final over a year ago.
Asked on January 1, 2013 under Family Law, Ohio
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
The answer is to be found in the divorce decree (if a court order) or settlement (if you and your ex-husband came to an agreement). If a certain minimum value was placed on the home or your husband's share, if you receive less than that, you would have to pay him the difference; on the other hand, if it merely says you have to pay him his share of the present value of the home, you'll pay him part of whatever you get for the home.
If the decree or agreement required you to sell the home, then your ex-husband could enforce that against you--that is, he could require you to sell it (and pay him his share), even if that is to your disadvantage.
Again, you need to reference the decree or settlement: they are enforced as per their plain terms.
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