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Message
Divorce Property Settlements - I have a question...
Posted on 6/22/15 at 8:36 am
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.
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 on 6/22/15 at 8:42 am to GFunk
quote:
a common family member
Huh?
Posted on 6/22/15 at 8:42 am to ksayetiger
quote:
ksayetiger
quote:
Summary: dont get married
Married for 3 years come this August
Posted on 6/22/15 at 8:43 am to GFunk
Actually i am happily married as well
I guess i should have said dont get dvorced
I guess i should have said dont get dvorced
Posted on 6/22/15 at 8:44 am to GFunk
should have liquidated all assets and split them at the time of divorce. thats why its called divorce
Posted on 6/22/15 at 8:51 am to Post It Bandit
quote:
Post It Bandit
quote:
should have liquidated all assets and split them at the time of divorce. thats why its called divorce
Posted on 6/22/15 at 8:52 am to Post It Bandit
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 on 6/22/15 at 9:05 am to FearTheFish
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 on 6/22/15 at 9:21 am to FearTheFish
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 on 6/22/15 at 9:28 am to GFunk
The only common family member would be kid (I hope).
Sounds like wife just trying to stir the pot. I'd tell her STTDB
Sounds like wife just trying to stir the pot. I'd tell her STTDB
Posted on 6/22/15 at 9:42 am to GFunk
Yeah, I'm sure a ton of lawyers are going to give actual legal advice over the internet concerning your long, detailed situation.
Posted on 6/22/15 at 9:52 am to GFunk
My head hurts from just reading that...
Guess I got lucky in my divorce, when she moved out ...she got nothing.. Oooops...
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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