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Small debts may be forgotten during divorce

In a divorce without children, a couple often fights the hardest over the assets they once shared. This may be for a number of reasons: sentimental value, fiscal revenge, and financial need, to name a few. But whatever the reason, property division can quickly become a nightmare and many divorced couples in New Orleans can confirm this.

Depending on the mentalities of the spouses involved, assets may get caught up in a lengthy court battle. This can have negative effects on other areas of life, especially if the couple owns a condo. In many instances, a condo comes with monthly charges that all residents in the complex must pay. These costs are usually used to benefit the community with decisions being made by a condo board. But when divorce happens, these charges may be thrown to the wayside and neglected. In some cases, the wife may move out, having been the one who took care of such costs while the relationship was still whole. When she moved out, the husband may either have already forgotten them or refused to pay them because she took care of them, not him.

These costs add up but may go unpaid if the former spouses find themselves in dire financial straits after the split. One way to pay such costs would be to sell the condo and take the missed payments out of the earnings made on the sale. Another way could be to determine who will pay them during the divorce agreement, since they are considered a debt. But there are usually bigger fish to fry, such as who will get the condo itself and be able to choose to keep it or sell it. This is why such little things may be forgotten. If you are worried that you will not be able to cover all of the bases during your divorce, it is encouraged that you speak with a legal professional.

Source:  Habitat, "When Apartment Owners Divorce, Who Pays the Monthly Charges? Anyone?" Ronda Kaysen, May. 28, 2013

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