Legal Question in Family Law in New Jersey

Re: divorce and business debt

No attorney can give you a flat and definite answer to your question without a lot more information and work.

You might be stuck with having to pay this debt from the sale of the house, or you might not, it depends on a number of things, who is liable on the debt and how is that debt secured.

You also might be able to make him pay all or part of the debt from his share of the proceeds of selling the house, or you may have to force him to pay it back to you from other assets or even pay over time.

This kind of problem, fighting to have as much as you are entitled, to get paid over to you, is what a good divorce attorney does for you.

Please call my office if you would like my assistance. I would be happy to speak to you on the telephone, but it will take more than just a brief telephone call to assist you with these issues.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru. This website, LawGuru, will NOT let me list my phone number in this response.

Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The response that you have received is based only on the small amount of information which you have provided. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.

Re: divorce and business debt

This question is more complex than this space allows. If your husband's business, for example, is a marital asset subject to equitable distribution (ED)then the asset's value assestment or valuation would include the debt against it. If that were the case, then it would already have taken into account in the distribution of the business and charging it against the marital home's equity would double dipping. You have not mentioned whether this is the case. You must consult with a lawyer and provide detailed information about the manner and timing of acquiring ofr assets and debts before an accurate opinion can be rendered.

Re: divorce and business debt

This question is more complex than this space allows. If your husband's business, for example, is a marital asset subject to equitable distribution (ED)then the asset's value assestment or valuation would include the debt against it. If that were the case, then it would already have taken into account in the distribution of the business and charging it against the marital home's equity would double dipping. You have not mentioned whether this is the case. You must consult with a lawyer and provide detailed information about the manner and timing of acquiring of assets and debts before an accurate opinion can be rendered.

Re: divorce and business debt

This question is more complex than this space allows. If your husband's business, for example, is a marital asset subject to equitable distribution (ED)then the asset's value assestment or valuation would include the debt against it. If that were the case, then it would already have taken into account in the distribution of the business and charging it against the marital home's equity would double dipping. You have not mentioned whether this is the case. You must consult with a lawyer and provide detailed information about the manner and timing of acquiring of assets and debts before an accurate opinion can be rendered.

Re: divorce and business debt

This question is more complex than this space allows. If your husband's business, for example, is a marital asset subject to equitable distribution (ED)then the asset's value assestment or valuation would include the debt against it. If that were the case, then it would already have taken into account in the distribution of the business and charging it against the marital home's equity would double dipping. You have not mentioned whether this is the case. You must consult with a lawyer and provide detailed information about the manner and timing of acquiring of assets and debts before an accurate opinion can be rendered.

Re: divorce and business debt

This question is more complex than this space allows. If your husband's business, for example, is a marital asset subject to equitable distribution (ED)then the asset's valuation would include consideration of the debt against it in arriving at its value and the portion subject to ED. If that were the case, then it would already have taken into account in the distribution of the business and charging it against the marital home's equity would double dipping. You have not mentioned whether this is the case. You must consult with a lawyer and provide detailed information about the manner and timing of acquistion of assets and debts before an accurate opinion can be rendered.