Can l use my land to pay for a debt?
I owe my ex-wife 500000 from a failed business venture. Currently I do not have the cash but I have pieces of land I can give her in place of cash. What do I do if she refuses to take the land? She has taken me to court.
Of course you can’t force her to take the land. What you can do is to sell the land to settle the debt. Unless she agrees to take the land, in which case a settlement agreement should be drawn up which stipulates that she will accept the land in settlement of the whole of the debt. The pieces of land can be valued by a valuator. The agreement can also be made an order of court.