MICHAEL S. GREEN, ESQ.
NJ Attorney ID 005141998
GREEN & ASSOCIATES, LLC
Attorneys at Law
522 Route 18, Suite 5
East Brunswick, New Jersey 08816
Attorneys for Plaintiff
: SUPERIOR COURT OF NEW JERSEY
NATASHA VILLANUEVA : CHANCERY DIVISION
: FAMILY PART
Plaintiff, : UNION COUNTY
: DOCKET NO.: FM -20-95-22
VICTOR VILLANUEVA :
: CIVIL ACTION
: PROPOSED JUDGMENT OF
PLEASE TAKE NOTICE that the Plaintiff, Natasha Villanueva, will seek final judgment of issues contained in this notice.
Hearing Date: February 08, 2023
Time: 01:30 p.m.
Location: Superior Court of New Jersey
Union County Courthouse
2 Broad Street
Elizabeth, New Jersey 07207
Judge: Honorable Marc Brown, J.S.C.
ALIMONY: The parties mutually waive any and all rights to alimony and/or support from the other party now and forever. The Husband and Wife acknowledge that this waiver of alimony and support shall be permanent and irrevocable.
PROPERTY: The Parties have property located at 587 Lillan Terrace, Union, New Jersey, that was acquired by them during the course of their marriage. Both parties are named on the deed and the mortgage.
The Wife will have the home appraised by an agreed upon independent appraiser to determine the equity in the property and share equally 50/50 the cost of the appraisal. Neither party shall convey, pledge, hypothecate, mortgage, in any way, transfer, convey or encumber the property, or attempt to do so until time of transfer.
Wife will have power of attorney to sign all documents necessary for refinance of the marital home into her name. Within one hundred twenty days (120) of the Final Judgment of Divorce, the Wife will purchase Husband’s legal and equitable right, title and interest in the Marital Home. Upon the refinance of the mortgage out of the Husband’s name and solely in the Wife’s name and payment to the Husband for his 50% interest, the Husband will convey his legal and equitable right, title and interest in the Marital Home to the Wife with a Bargain and Sale Deed with Covenants against Grantor’s Acts conveying his interest in the marital home free and clear of all encumbrances. Thereafter, the Wife will have sole legal and equitable right, title and interest in the marital home.
The Wife’s purchase price of Husband’s interest in the Marital Home will be 50% of the equity therein. The amount of equity in the Marital Home will be determined by the difference between the appraisal valuation and the remaining balance of the mortgage determined as of the date of closing. However, the Wife will receive a credit reducing the amount paid to the Husband for his 50% equity in the marital residence in the amount of 50% of the principal paid down since July 01, 2021 to date of refinance, as the Wife has been paying for 100% of the mortgage since that time, therefore paying for the Husband’s share of the mortgage during this time. The amount paid by the Wife to the Husband for his interest and equity will therefore be reduced by this amount. Husband’s share of the equity will be deposited into an escrow account with the real estate attorney until he may receive it personally.
The Wife will be solely responsible for the cost of the mortgage payment, property taxes and homeowners’ insurance and all other carrying costs including but not limited to the utilities until the Marital Home is refinanced or sold.
Wife will have power of attorney to sign all documents necessary for sale of the marital home. If Wife cannot or does not purchase Husband’s interest in the Marital Home within one hundred (120) days of the Final Judgment of Divorce, the parties will immediately list the house for sale as follows:
The Parties will agree to follow the reasonable recommendations of a real estate agent, including but not limited to the listing price and the acceptance of an offer to buy the Marital Home.
The proceeds from selling the home will first be used to satisfy existing mortgage, real estate broker’s commissions, and closing costs. Any remaining proceeds will be divided equally between the Parties, 50/50, after the Wife receives a credit for the 50% of the principal paid down since July 01, 2021 to the date of the closing. Husband’s share of the proceeds with be deposited into an escrow account until he may receive it personally.
If reasonable repairs must be made to effectuate the sale of the Marital Home, the Parties will be equally responsible for the costs.
No other liens or encumbrances. Title for the properties listed herein will be transferred free of all liens and encumbrances other than those mentioned herein: The Wife represents that she has done nothing to cause any liens or encumbrances against title to the properties listed herein nor has she suffered or allowed any Judgment or other lien or encumbrance to be placed against said titles nor will she now or in the future. The Wife shall not encumber the properties, and in the event a judgment is or has been entered against her that affects the value and/or equity in the properties, the Wife shall pay all proceeds of said judgment. The Husband represents that he has done nothing to cause any liens or encumbrances against title to the properties listed herein nor has he suffered or allowed any Judgment or other lien or encumbrance to be placed against said titles nor will he now or in the future. The Husband shall not encumber the properties, and in the event a judgment is or has been entered against him that affects the value and/or equity in the properties, the Husband shall pay all proceeds of said judgment.
THE PARTIES’ JOINT BANK ACCOUNTS: The parties have one joint bank account with TD Bank used to pay the monthly household expenses. Upon Final Judgment of Divorce the Parties will close the account and the Wife shall keep the balances of the account.
INDIVIDUAL BANK ACCOUNTS: Upon their Divorce, the parties will have sole legal and equitable right, title and interest in their individual accounts and the balances therein.
TAX DEFERRED ACCOUNTS AND/OR PENSIONS: The Husband has a Pension and Annuity though his employer and no other retirement accounts. The Husband will have sole legal and equitable right, title and interest in his Pension and Annuity and balances therein. The Wife waives all right, title and interest in his Pension and Annuity and balances therein.
The Wife has a 403B though her employer and no other retirement accounts. The Wife will have sole legal and equitable right, title and interest in her 403B and balances therein. The Husband waives all right, title and interest in her 403B and balances therein.
Both Parties represent that they have no other Tax Deferred Accounts, Pensions or 403 Savings Accounts other than that stated herein. In the event that there are any other such accounts, the Parties will have sole legal and equitable right, title, and interest in their individual retirement accounts and the balances therein.
VEHICLES AND INSURANCE: Following their divorce from one another, the Parties will each be solely responsible for the costs of ownership, maintenance, insurance, financing, leasing and any other costs of their respective automobiles. The Husband just purchased a red Chevrolet V21 Trial Boss. The Wife will receive 50% of the total amount put down on the truck.
LIFE INSURANCE POLICIES: Upon Final Judgment of Divorce, each Party will be solely responsible for paying the premiums and all other costs associated with their respective life insurance policies.
MEDICAL INSURANCE: The Parties agree that each of them will, upon their divorce be solely responsible for their respective health care insurance costs and health care costs generally.
CREDIT CARD DEBT AND OTHER DEBT: The Parties have no joint credit cards, joint credit card debt or other joint debt other than that stated herein. The Parties agree that each Party will be solely responsible for their individual credit card debt or individual debt in their name solely and will indemnify the other Party for same excluding those stated herein.
HOUSEHOLD ITEMS AND PERSONAL GOODS: The Parties have amicably and equitably distribute their personal possessions, including household furniture and furnishings, clothing, jewelry and other personal items.
TAXES: The Parties have filed their State and Federal tax returns separately for the year 2020 and will continue to do so thereafter.
For tax year 2022, and each year thereafter, the Wife shall be permitted to claim all deductions relative to the former marital home, including but not limited to property tax deductions and/or mortgage interest deductions.
COUNSEL FEES: The Wife will be responsible for her own counsel fees.
RESERVATION OF RIGHTS: In the event that the Husband seeks to set aside default that has been entered against him, the Wife withdraws her assent to the entry of Judgment as proposed herein, and will seek to have all financial terms of the parties’ dissolution resolved by strict application of the statutes and case law pertaining to custody, child support, alimony, equitable distribution and she will seek an award of counsel fees against the Husband.
GREEN & ASSOCIATES, LLC
Attorneys for Plaintiff
DATED: December 12, 2022
MICHAEL S. GREEN, ESQ.