Contempt?

[Grace48]

In my divorce I was awarded a timeshare. It has a mortgage on it. Prior to the divorce my ex had the account. He let the maintenance fees and club dues go in arrears in excess of $1000.00. He paid the mortgage on it. I can not afford the mortgage or the fees. There is just no way.  I am drafting a letter giving him the timeshare back so he can recover the account and protect his credit. I also have realty paperwork to list it for sale.  I don't want to be found in contempt, but I just can't pay it. Any suggestions?

[TC]

You can draw up all the paperwork you want, but unless he agrees to accept it back, you can't force it upon him at this point I don't think.

Your best option is to get it on the market and cut bait I think.

TC

[Grace48]

I just want to do the right thing. Since I can't afford the timeshare I thought I would offer it back to him, otherwise it will go in foreclosure. My credit is history at this point anyway. But I thought it would be the right thing to do to give him the opportunity. And if he does take me to court, it will show I tried to do the right thing. At worst the judge will make a monetary order in his favor I guess.

[m_t]

I'm not sure I understand what you think you'd be in contempt of...

[chill]

I agree with MT.  If the property was given in the papers.  Then it is yours.  If the papers didn't stipulate that you were to refinance before quick claim could be done.  Then, you aren't in contempt of anything.  As with all divorces, the judge can award any debts or assets with debts, Most banks won't take a name off the loan, they still hold whoever is on the loan responsible.


If the loan is in both your names, and you can't sell it or pay the morgage.  Then, it would be nice of you to give it back.  But......have him refinance your name off.

[Grace48]

I think the papers read that I "will hold him harmless thereof" for the mortgage on this. But both our names are on it. Even though he is worse than a dog, I wouldn't just ruin his credit maliciously. Although he deserves it out of spite, since he's ruined mine.  lol I just don't want it to go unpaid and say nothing to him. I was under the impression he could take me to court for the debt, since I was ordered to pay it, especially if the mortgage company tries to go after him for it.  I take it that is not so? Oh, and Thanks for your answers.

[chill]

The court can say anything, the bank doesn't care.  You went into a contract with the bank.  his bad for not making you refinance to get his name off.  Personally if  you think you can get at least what is owed, see if you can do that.  otherwise, yes, you would be being nice giving him the option, but only after you have him refinance.  So he can't come back 20 years from now quit paying and screw your credit again.

Do you have anything else that has his name on it, or your name on his stuff?

[m_t]

Well, that does put a different spin on things. Yes, with both names on the note, the bank can and likely will go after either or both of you. And yes, he could take you to court for contempt. And yes, the court could order you to "make him whole" by repaying him. I would contact him ASAP to offer it to him, and if he's not interested, then get it on the market immediately.