Post by Logan on Dec 25, 2016 13:59:53 GMT -6
The South Dakota Supreme Court determined a Salem woman is not responsible for reimbursing her ex-husband for the payment of a mortgage on their old familial home.
In April 2015, Michael Coffey, of Salem, sold a home he shared with Debra Coffey before their divorce in 2010. Per the divorce agreement, he used the proceeds to pay off a mortgage for which he was responsible, as well as a second mortgage under Debra's name.
He then asked for a $56,000 reimbursement from Debra, but in December 2015, a circuit court denied his request. On Wednesday, the South Dakota Supreme Court upheld the lower court's decision.
Michael argued the agreement, which prevents Michael from harm related to Debra's mortgage, was ambiguous due to a separate spreadsheet that documents each person's total assets and liabilities. And with the sale of the house, the assets became unequal.
Read more: www.mitchellrepublic.com/news/local/4186030-sd-supreme-court-no-repayment-salem-womans-ex-husband
In April 2015, Michael Coffey, of Salem, sold a home he shared with Debra Coffey before their divorce in 2010. Per the divorce agreement, he used the proceeds to pay off a mortgage for which he was responsible, as well as a second mortgage under Debra's name.
He then asked for a $56,000 reimbursement from Debra, but in December 2015, a circuit court denied his request. On Wednesday, the South Dakota Supreme Court upheld the lower court's decision.
Michael argued the agreement, which prevents Michael from harm related to Debra's mortgage, was ambiguous due to a separate spreadsheet that documents each person's total assets and liabilities. And with the sale of the house, the assets became unequal.
Read more: www.mitchellrepublic.com/news/local/4186030-sd-supreme-court-no-repayment-salem-womans-ex-husband