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In a tough real estate market, we are real estate sales associates& investors/ entrepeneurs of a business we sold last year, but...no final payment on THAT biz to pay OFF marital debt . Top agents though when the market turns around we will be there to make "buck-ola's again", but..meanwhile refinancing 2 investor properties, all under MY name & credit, to get CASH out to pay marital debts, but...one property is a condo from PRIOR marriage.Should I INSIST he signs a notarized note saying I get BACK my Pre-Marriage money from MY condo or not one day ???? He threatens me that he'll just QUIT working & let me figure it all out then. Cute, huh??He now pays me money every month.Have to pull teeth to get it (no formal Child Support rules/laws yet) Am still in the BIG marital home, drive a new BMW & go for a pedicure still sometimes, but...the reality IS: I cannot be the dumb blonde & just take this premarital, refi $$ & pay marital debt & get stuck w/a condo that my existing tenant CAN"T cover the new mortage amt. What happens if I have to foreclose in next year or 2 on that 'cause we/ME can't afford the NEW mortgagepayment? I, personally, am screwed then w/MY credit. His has already distroyed his credit. Why should I screw mine? Right??If I don't just do what he says, he threatens to just quit work & let me figure our making money and...then where would be/??? Or...do I just take my pre marital $$ & give to him to pay our debts, that HE caused almost all of (another story there) or...have him be MAD, threaten & not pay me any money for a few weeks till he realizes I was only trying to cover my little A, if I make him sign a note, notarized & legal, that IF & when we sell the MAIN maritak home that I get $200,000 or more 1st from his debt ??.Any answer would be great. Thanks!
a notarized letter means nothing - it would have to be included in your divorce settlement papers, as the divorce papers will trump any other document about marital property made prior to them.If any money made by him was used to pay the mortage of the condo or maqke any repairs/upgrades (i.e. money from a joint bank account)- it becomes co-mingled property and you lose the right to consider it seperate - he has rights to it as well.He may have made the debts, but because you were married - they are your responsibility as well.
I suggest you handle your divorce and property issues in whatever way reduces the amount of debt or future issues post divorce. I'm a family law attorney
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