Q: When considering division of assets/debts, what do you do if one person refuses to acknowledge some of the shared debts?
I am refinancing the house to keep it in my name. We have solar and owe on another loan. My ex refuses to acknowledge that he is responsible for 50% of the solar cost when looking at the amount of equity he should receive from the house. I am feeling stuck as to what to do. The home appraised at 185K, my new home loan would be 127K, and the solar equipment bill is 36K. Am I correct in thinking that after you take out the cost of the new loan and the solar we are left with about 22K that would need to be divided as equity (minus any other debts) between the two of us?
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A: Your divorce agreement should clearly define what equity is. If it doesn't and the solar costs aren't directly tied to the home, then you may have an issue including that in the equity calculation.
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