NJSBA Family Law Section

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  • 1.  Equitable distribution and underwater mortgage and unsellable house

    Posted 06-26-2018 05:07 PM
    I was hoping someone might be able to help me figure out how to divide marital property when:
    a) wife has not filed an Answer, her 35 days to do so have passed
    b) wife claims she wants the house, husband wants it too
    BUT
    c) house has outstanding mortgage and no equity, and was severely damaged during Sandy, still not fixed because contractor disappeared with the money and that's still not resolved, house is still unhabitable (contractor abandoned the project while raising the house), and the mortgage apparently was such that house cannot be sold until 2020
    d) wife and husband have been living with various relatives (separately), while husband has been responsible for the mortgage
    e) I was planning to file for a default but I am not sure what can be done about the house. That is the only "asset" subject to ED and wife has a part time job, husband is retired so buy out won't work even if we could figure out what the house is worth, as of right now it seems pretty much worthless. I'm doing this case pro bono, and there is no money for appraisals or any kind of experts. 

    Any suggestions or advice is greatly appreciated. 

    Thank you

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    Natalia Teper Esq.
    Pennington NJ
    (609)737-3030
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  • 2.  RE: Equitable distribution and underwater mortgage and unsellable house

    Posted 06-26-2018 05:25 PM

    if Wife has defaulted, your file your papers in accordance with the Family Part Five Rules (notice of equitable distribution) and move forward at a default hearing.  The documents must set forth all income and assets and issues with all information.  You apply the applicable law and ask the court to grant your relief. However, the court can take the information and make a different decision.

     

    It is unfortunate what happened to the house and the circumstances.  You will need to get creative and provide proof to the court that the house is underwater. However, the house is to be sold.  That is what the statute provides and both parties are responsible for all debt equally.

     

    Alice M. Plastoris, Esq.

    Law Office of Alice M. Plastoris, Esq.

    82 Speedwell Avenue, 2nd Floor

    Morristown, NJ 07960

    Telephone No. (973) 538-7070

    Fax No. (973) 538-7088

    Email: [email protected]

     

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