"As an equalization factor for the aforementioned distributions and in accordance with and in accordance with the attached Schedule of Distribution, the Husband shall pay to the Wife the sum of $X as follows: The amount of $X shall be paid to the Wife within ten (10) days of the date of execution of this Agreement; and, the balance, $X , shall be paid to the Wife by the Husband at the rate of $X per month with the unpaid balance occurring interest at the statutory rate. Said payments shall commence on the 1st of the month following the last payment of alimony as set forth hereinabove. The Husband's obligation regarding said payments shall be enforced as follows: In the event the Husband does not pay the monthly amount as set forth herein, then the entire amount shall automatically convert to non-taxable alimony payable at a rate of $X per month until paid in full."
I have to know a lot more than what you have written here. Generally equitable distribution is not subject to the contempt powers of the court, but this agreement appears to convert it to alimony. I would have to do research to form an opinion.
Contempt is not a remedy for non-compliance with an Equitable distribution award. You have to file a motion for enforcement. Use of a lawyer is recommended.
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