Wife bought a condo prior to our marriage; now on the market three years and she won't do anything to move it

So what do I do? We are now married with a child and this liability is really digging into our monthly expenses that we need to put aside for baby's college fund, improvements on the house we live in, etc. If I suggest or even attempt to go over there and modify/maintain/clean, I am reprimanded. The price was only lowered 10% in 3 years. We are living in a bad housing market (lots of job losses). Location is ideal, price is competitive. I feel she should do some upgrades to make it irresistible to a buyer rather than do nothing and negotiate money off. By that time in this market, the buyer has gone on to another property that is more desireable. This is driving a wedge down the middle of our marriage. Help!

While you can't sell it without her agreement, it is communal property. Unless the two of you signed a pre-nuptual agreement, you own 50% of it.

Now, if you did sign a pre-nup, you're screwed on that part. However, you can make your point by opening a new bank account *in your name only,* have your cheque deposited there. The joint account is your "bills" account. This especially works well if the account requires both signatures for a cheque to be legal. Transfer exactly half of the amount necessary to cover the bills for the home you occupy (mortgage, utilities, taxes, etc) plus half of your monthly grocery bill. Assuming your wife has an income, she will have to cover 100% of her condo's cost out of pocket.

Finally, speak to a good lawyer and accountant about how to isolate your respective finacial backgrounds and outlooks, set the plan into motion ONLY if you reach the point where you believe that her "neglect" of the condo could affect YOUR credit score.

Alternatively, you can speak to the condo board. Many are incorporated, and have by-laws that specifically forbid this kind of activity, and they can evict an owner and sell his or her condo out from under them, giving the ousted owner fair-market value, less costs and legitimate expenses (like repairs and upgrades). Please note that if you go this route, and you are unlucky, your wife may very well divorce you, and try to take you for every thing you're worth. If you're lucky, you will be in for a couple of years of the dog-house, but when she realises how much more economic freedom the loss of that anchor gives her, she may relent and start rebuilding the marriage. You will have to be prepared for either contingency, or a combination of both!

The easiest way to find out, is to sit down and flat-out ask her *why* she is holding onto her old condo. It may be that it is the first thing she ever really owned, having paid for it with her own money. It could also be that she's scared that you'll toss her out on her ear, and she'll have nowhere to go except the condo...she could also be using it for a trysting location with her "bit on the side"...*if* she has one. It could also just simply be somewhere she can go to unwind, with no kid(s) or husband to demand her attention.

Why don't you take it off the market and rent it out for a while until the market improves.

Also-- if your wife owned it, do you think she might be hanging on to it "just in case". I think that is the real issue here, not the selling of it.

How about it's just priced high tried to lower the price. The market is bad for sellers but great for buyers how about trying to make the place more inviting for open house stage you will see how well it might go try offering a bonus like a flat screen or just be creative think.

As a Dr. Phil fan I have to say that there are two sides to every pancake. What is her story. I am sure there is some reason for her actions. You are leaving an awful lot of things out of the story.

Since it is in her name, she has the final decision. Is it rented? Is it actually costing you real money? I am sure that the two have not carried a double mortage for three years, at least not without a really good reason. What is it.

Sunshine is absolutely right- its exactly what I would have said.

"it is communal property. Unless the two of you signed a pre-nuptual agreement, you own 50% of it."

That's not true. There are only 9 community property states.

The property was acquired before marriage. If it was never the marital residence and marital funds were not used to pay the mortgage, he would have a hard time claiming any financial interest in the property at all. If marital funds were used, then there would be some sort of proportionate allocation for his interest in the property.

I agree with Sunshine. The problem isn't the condo itself. The problem is whatever is causing your wife to keep a death grip on it.