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Divorce Property Settlements - I have a question...

Posted on 6/22/15 at 8:36 am
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 6/22/15 at 8:36 am
Party A - Husband
Party B - Wife

Party A & B divorced approaching 20 years ago, but never divvied up the property settlement per the divorce decree. This included liquidating the shared community property (a home with two lots to either side), bills, etc. The bills were long ago paid off, but the community property remained in A&B's name. Two years after the divorce decree, Party A&B signed off on repartitioning some of their community property and then both signed on to purchase/mortgage another home being built on the repartitioned property for a common family member who could not qualify on their own.

Long ago, Parties A&B's family member moved out of this property and Party A took responsibility for payment of the note and continued to do so without incident or issue and with total agreement from both Party A&B.

Last summer, Party A&B finally agreed to liquidate their community property. This began with the 2nd property they financed several years after their divorce. The cash realized as a result of this sale was split equally between Party A&B which is consistent with the rules of the property settlement (even though this property was obtained after the property settlement).

The original home Party A&B had together was sold recently, along with one final Lot on the opposite side of the home. These purchases were again split down the middle with both parties receiving equal shares of the proceeds with the Lot's closing occurring late last week.

At the closing of the lot late last week, Party B threatened Party A indicating that-after discussions with an attorney-Party A was only entitled to the equity in the original home and lots as of the time of the divorce decree. This was done before Party B walked in and signed closing papers on the sale of the remaining lot which was split 50/50 down the middle. It was done after two previous properties were closed on and proceeds from these sales were split 50/50 down the middle.

Is there any legal accuracy to the threat from Party B towards Party A in regards to having to pay this equity back to Party B now that all three RE transactions are complete and paperwork is signed?

Note - I am not the family member in question, LOL.
This post was edited on 6/22/15 at 8:38 am
Posted by ksayetiger
Centenary Gents
Member since Jul 2007
68299 posts
Posted on 6/22/15 at 8:41 am to
Summary: dont get married
Posted by geauxbears08
Houston, TX
Member since Jun 2011
223 posts
Posted on 6/22/15 at 8:42 am to
quote:

a common family member


Huh?
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 6/22/15 at 8:42 am to
quote:

ksayetiger
quote:

Summary: dont get married


Married for 3 years come this August
Posted by ksayetiger
Centenary Gents
Member since Jul 2007
68299 posts
Posted on 6/22/15 at 8:43 am to
Actually i am happily married as well

I guess i should have said dont get dvorced
Posted by Post It Bandit
Boutte
Member since Mar 2008
3038 posts
Posted on 6/22/15 at 8:44 am to
should have liquidated all assets and split them at the time of divorce. thats why its called divorce
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 6/22/15 at 8:51 am to
quote:

Post It Bandit
quote:

should have liquidated all assets and split them at the time of divorce. thats why its called divorce
Posted by FearTheFish
Member since Dec 2007
3758 posts
Posted on 6/22/15 at 8:52 am to
quote:

should have liquidated all assets and split them at the time of divorce.


You would be amazed the amount of people that never get to this step after getting an official decree of divorce. Makes it real fun for the succession lawyers.
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 6/22/15 at 9:05 am to
That's my main concern. Party A and B have signed off on a decree, then signed off on three separate sales of real estate and now Party A wants to do something different? Is this Party A hearing info from an attorney that just wants to collect some money and take her for a ride or is there some validity to what she's allegedly been told?
Posted by WPBTiger
Parts Unknown
Member since Nov 2011
30972 posts
Posted on 6/22/15 at 9:15 am to
TLDR, call a lawyer.
Posted by ConfusedHawgInMO
Member since Apr 2014
3495 posts
Posted on 6/22/15 at 9:21 am to
quote:

You would be amazed the amount of people that never get to this step after getting an official decree of divorce


That's because most of them think that since the judge said it, that just automatically makes it so and most attorneys don't care enough to actually explain that there needs to be deeds, bills of sale, etc. signed, recorded, yada yada.
Posted by ItNeverRains
37069
Member since Oct 2007
25438 posts
Posted on 6/22/15 at 9:28 am to
The only common family member would be kid (I hope).

Sounds like wife just trying to stir the pot. I'd tell her STTDB
Posted by boosiebadazz
Member since Feb 2008
80227 posts
Posted on 6/22/15 at 9:42 am to
Yeah, I'm sure a ton of lawyers are going to give actual legal advice over the internet concerning your long, detailed situation.
Posted by 99BLKBRD
Member since Mar 2015
575 posts
Posted on 6/22/15 at 9:47 am to
Party A should kill Party B.
Posted by Phil A Sheo
equinsu ocha
Member since Aug 2011
12166 posts
Posted on 6/22/15 at 9:52 am to
My head hurts from just reading that...

Guess I got lucky in my divorce, when she moved out ...she got nothing.. Oooops...
This post was edited on 6/22/15 at 9:53 am
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