Will the Court Allow Installment Payments for a Property Division Order?
It is possible to request the payments be made in installments, however there must be a reason for it.
Will the Court Award Interest on Installments From the Property Division?
In property division matters, the court actually maintains full discretion.
This matter has been brought before the courts on many occasions. In the case of Overson v. Overson 140 Wis. 2d 752, 412 N.W.2d 896 (Ct. App. 1987), the wife sought interest on the payments because they were to be paid in 11 installments. The court of appeals instructed the trial court to explain why it had failed to explain why it did not award interest. The trial court stated that it held full discretion on the matter and that, among other reasons, the wife's attorney did not request it.
Will I Have to Pay Interest on Property Division Installments?
The court does allow installment payments for property division. However, the court has the final decision regarding installment payments and interest.
As seen in the ruling of Overson v. Overson, 140 Wis.2d 752, 412 N.W.2d 896 (Ct. App. 1987), it is at the discretion of the trial court whether or not interest is allowed on the balance due in property division payable by installments. If a timely appeal occurs regarding support payments, the trial court has the discretion to retroactively adjust any portions of the original judgment.
References: Overson v. Overson (1985)
Property Division Articles & Frequent Questions
Three Simple Steps
Find out how simple the divorce process can be when you work with a law firm that puts you first. Book your consult today!
3. MOVE FORWARD