ExpertLaw.com Forums

Property Not Sold After Divorce, How to Recover Money

Printable View

Show 40 post(s) from this thread on one page
Page 1 of 2 1 2 Next LastLast
  • 06-11-2013, 09:52 AM
    skunkman
    Property Not Sold After Divorce, How to Recover Money
    My question involves real estate located in the State of: Florida

    I have been divorced for 6 years. Part of the settlement was my ex were to get the proceeds of the sale of our condo. She was to make the principal and I was to make the interest portion of the mortgage. She has failed to pay the principal. She has refused to list the property at fair market value therefore I have been stuck. I took her to family court 4 years ago and the judge ordered the condo to be listed but at a value way higher than fairmarket - again keeping me stuck with the property.

    My question is, can I force a partition sale? The partition petition would be in a separate county than where the family court hearing was held.

    There is about 150k equity in the condo. I have lost over 100k in nonrecoverable costs.

    Thanks
  • 06-11-2013, 10:02 AM
    jk
    Re: Partion Sale After a Divorce
    The second court is not going to enter an order that conflicts with the divorce order. You won't be able to slip it through either as your ex obviously will be involved in the partition action.

    What was the courts reason for demanding the property be listed so high above FMV?
  • 06-11-2013, 10:25 AM
    skunkman
    Re: Partion Sale After a Divorce
    I don't know. I was shocked by the outcome. The judge essentially sentenced me to at least 10 years of interest payments. Also, I have to pay the HOA dues which are $600/month. Being stuck with this condo is a real financial burden and time consuming as I have to coordinate all maintenance since my ex declared she wants nothing to do with it. I did get it rented but it is still cash flow negative.
  • 06-11-2013, 11:33 AM
    jk
    Re: Partion Sale After a Divorce
    Is there some reason you have not sought to both enforce her requirement to make payments as well as recover the money you paid that she is required to per the order?
  • 06-11-2013, 11:50 AM
    skunkman
    Re: Partion Sale After a Divorce
    I forced her once in family court and won - since then she has made 2 of 66 payments. To reconcile this I reduced her alimony each month. Alimony is now over so I have no choice but to revisit this in court. The spirit of the divorce agreement was to sell and move on. Again I was shocked when the judge ruled against me regarding the sale at fair market value. At the time I did not bring up my partition rights as I was not aware of them.
  • 06-11-2013, 12:48 PM
    jk
    Re: Partion Sale After a Divorce
    I do not know why the judge made the decision he did. It sounds all wrong but they generally do have a reason behind the decisions.

    With that, rather than trying to slip a partition past the courts as you are considering. I would take this to the divorce court and seek the enforcement of the divorce order, both to enforce her paying what she owes you and to facilitate the actions required to fulfill the order. Asking the court to partition the property is but one suggestion you would make in seeking the order be fulfilled.
  • 06-11-2013, 01:05 PM
    skunkman
    Re: Partion Sale After a Divorce
    I think my challenge is that my family court and the court where I would file a partition are in different counties. Do I have anything to lose by trying the partition in the county where the condo exists? I definitely will have to seek past monies due - unfortunately this may have to be a separate case in a separate county.
  • 06-11-2013, 01:12 PM
    Mr. Knowitall
    Re: Partion Sale After a Divorce
    Quote:

    Quoting skunkman
    View Post
    I took her to family court 4 years ago and the judge ordered the condo to be listed but at a value way higher than fairmarket - again keeping me stuck with the property.

    You have not told us what happened in court, but here's a common scenario: A house is to be sold and the two parties argue about what it's worth, but neither of them have bothered to obtain an appraisal, so the judge is stuck looking at available data, such as what they paid for the house, or the parties' respective speculation about its present value, when trying to protect a party from a lowball sale. Another could involve the parties coming into court with two different appraisals, one too high, the other too low, and the court being stuck choosing one or the other as the more credible.
    Quote:

    Quoting skunkman
    My question is, can I force a partition sale?

    What's to partition? You have told us that your wife gets 100% of the proceeds of any sale.
    Quote:

    Quoting skunkman
    View Post
    I did get it rented but it is still cash flow negative.

    That would presumably be the court's rationale for having you pay the interest - if you have maintained possession of the condo as an income-generating property and keep 100% of the rent, it makes sense for you to be covering the interest on the mortgage and routine maintenance until the property is sold. Whether or not the economics turned out to be what you and/or the court envisioned is a different issue.
    Quote:

    Quoting skunkman
    View Post
    Do I have anything to lose by trying the partition in the county where the condo exists?

    You mean, other than the case, your own legal costs, and possible attorney fees to your wife if you're sanctioned?
  • 06-11-2013, 01:12 PM
    jk
    Re: Partion Sale After a Divorce
    You are not understanding what I am saying. The family court can order and lord over the partition. That is one means to fulfill a standing order from their court that has stalled.

    As to filing the partition in a neighboring court. The worst I can see is an order of contempt from the family court if the action is seen as an attempt to circumvent the standing order.
  • 06-11-2013, 01:51 PM
    skunkman
    Re: Partion Sale After a Divorce
    When we went to family court I had a real estate expert hired who had a list of comparable sales (easy since most of the units are identical) an appraisal, and a list of current listings. The judge did not even let my expert testify.

    It's true there is nothing to financially partition since she gets the full proceeds. Partitioning would be a means for me to sever my joint tenancy from my ex-wife. Remember this is a finacial burden and has been on my credit report for the last 6 years as a liability.

    The condo has not been rented until recently. I use it to offset all of her nonrecoverable costs and I am stuck with the negative cash flow.

    Mr Knowtail - based on your replies it sounds like you feel I should be responsible for a condo that I want nothing to do with. Remember, the spirit of the MSA was to sell the condo and move on. Not to be joint tennants forever.
Show 40 post(s) from this thread on one page
Page 1 of 2 1 2 Next LastLast
All times are GMT -7. The time now is 01:12 PM.
Powered by vBulletin® Version 4.2.4
Copyright © 2023 vBulletin Solutions, Inc. All rights reserved.
Copyright © 2004 - 2018 ExpertLaw.com, All Rights Reserved