Ask Experts Questions for FREE Help !
Ask
    woodsy1960's Avatar
    woodsy1960 Posts: 3, Reputation: 1
    New Member
     
    #1

    Jan 10, 2008, 07:28 AM
    Sale of the Marital Property
    My friend and his ex wife just sold their marital property. She was living in it for the last 2 yrs but he was paying her $1575 a month for child support and toward the mortgage. He was just notified that the proceeds of the house went to his ex and he sees nothing. He wasn't behind on support and he was doing the upkeep on the house while she still lived there so it would sell better. He also told her repeatedly that they had to sell it or she had to buy him out and she refused to do that. He was notified yesterday in a letter from his lawyer, he's got to meet with him tomorrow. Just wondering if anyone has ever heard of this and how can it be done without his permission. I've never heard of anything like this. This is New York
    :eek:
    NowWhat's Avatar
    NowWhat Posts: 1,634, Reputation: 264
    Ultra Member
     
    #2

    Jan 10, 2008, 07:38 AM
    Well, are they actually divorced? This should have been outlined in the divorce papers. Who gets what.
    I would go back to those if he has them.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Jan 10, 2008, 07:50 AM
    Was his name on the deed? If it was he had to sign off on the sale. The divorce decree should have specified how the house was to be divided.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #4

    Jan 10, 2008, 08:25 AM
    Yes, the divorce paper work would have divided the property, who ever it said got the money from the sale is who gets it.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
     
    #5

    Jan 10, 2008, 01:41 PM
    The sale and proceeds of the home should be spelled in minute detail in the Final Settlement Agreement and approved by the Judge at the time of the divorce.

    Consult that agreement and you'll get your answers as to who gets what money, when and why if the attorneys had all parties agree to and sign this document properly. You should have been able to properly review this document and make any corrections or additions prior to signing it and having it presented to the Court for approval. That's why it's called a Final Settlement Agreement and is most commonly done when there are children and real estate involved.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #6

    Jan 10, 2008, 01:53 PM
    Quote Originally Posted by woodsy1960
    My friend and his ex wife just sold their marital property. She was living in it for the last 2 yrs but he was paying her $1575 a month for child support and toward the mortgage. He was just notified that the proceeds of the house went to his ex and he sees nothing. He wasn't behind on support and he was doing the upkeep on the house while she still lived there so it would sell better. He also told her repeatedly that they had to sell it or she had to buy him out and she refused to do that. He was notified yesterday in a letter from his lawyer, he's got to meet with him tomorrow. Just wondering if anyone has ever heard of this and how can it be done without his permission. I've never heard of anything like this. This is New York
    :eek:
    Who held title to the property - and the disposition of the property should be covered in the Judgment of Divorce. If he's on the Deed she can't just sell the house out from under him; if he's not - well, it's hers to sell or not sell or whatever.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #7

    Jan 10, 2008, 01:56 PM
    Quote Originally Posted by twinkiedooter
    The sale and proceeds of the home should be spelled in minute detail in the Final Settlement Agreement and approved by the Judge at the time of the divorce.

    Consult that agreement and you'll get your answers as to who gets what money, when and why if the attorneys had all parties agree to and sign this document properly. You should have been able to properly review this document and make any corrections or additions prior to signing it and having it presented to the Court for approval. That's why it's called a Final Settlement Agreement and is most commonly done when there are children and real estate involved.

    In NYS there isn't necessarily a Final Settlement Agreement - there is a Findings of Fact and Conclusions of Law which spells out the history, the children, the property and the Judge's conclusions; then there is a Judgment of Divorce which spells out what the Judge ordered, reviewed by both Attorneys (and parties) to ascertain that they understand and those documents are filed. If there is a Separation Agreement spelling out the terms, then that becomes part of the Judgment.

    Obviously varies from State to State -
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
     
    #8

    Jan 10, 2008, 02:14 PM
    Yes. Each state calls it something else. I wish they would make up their minds and keep it uniform from state to state!
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #9

    Jan 11, 2008, 08:41 AM
    Quote Originally Posted by twinkiedooter
    Yes. Each state calls it something else. I wish they would make up their minds and keep it uniform from state to state!

    There is a final settlement agreement which is reviewed and can be changed by either party (in Ohio), even if the divorce is disputed and the settlement is Court ordered?
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
     
    #10

    Jan 11, 2008, 12:12 PM
    The settlement agreement in Ohio is only filed once both parties have agreed to and signed off on it as they agree to the contents. The only changes the parties can do to the agreement is before it's filed... otherwise it must be modified by court order after the parties petition the court of any necessary changes needed citing the reasons. I've seen them revised and revised until finally everyone agrees to its contents before it finally gets presented to the judge and gets incorporated in the final decree. Don't sign it until you are completely happy with it's contents such as proceeds of real estate sales, child custody, visitation, child support payments, as it takes money and time to get it modified.

    His attorney should discuss with him the next step to take getting his portion of the real estate profit. He will probably have to bring this to the judge's attention peitioning the court for a determination of proper distribution of the real estate profit. Her attorney should know better not to do this unless she had the deed in her name to begin with and nothing was mentioned in the settlement agreement to the contrary about any profits being solely the wife's property after the sale of the home.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #11

    Jan 11, 2008, 01:07 PM
    Quote Originally Posted by twinkiedooter
    The settlement agreement in Ohio is only filed once both parties have agreed to and signed off on it as they agree to the contents. The only changes the parties can do to the agreement is before it's filed....otherwise it must be modified by court order after the parties petition the court of any necessary changes needed citing the reasons. I've seen them revised and revised until finally everyone agrees to its contents before it finally gets presented to the judge and gets incorporated in the final decree. Don't sign it until you are completely happy with it's contents such as proceeds of real estate sales, child custody, visitation, child support payments, as it takes money and time to get it modified.

    His attorney should discuss with him the next step to take getting his portion of the real estate profit. He will probably have to bring this to the judge's attention peitioning the court for a determination of proper distribution of the real estate profit. Her attorney should know better not to do this unless she had the deed in her name to begin with and nothing was mentioned in the settlement agreement to the contrary about any profits being solely the wife's property after the sale of the home.

    I don't understand how this is done if the parties do not agree, cannot agree and the Judge issues the order/final decree wihout the parties in agreement.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Marital property? [ 7 Answers ]

My husband inheritated a large sum of money ( 100 K ) from his father when he passed away which was 3 1/2 yrs ago. We purchased a home shortly after his dad passing and he put the inhertiance down on the house as a downpayment. I am not thinking of getting a divorce but I want to know what...

Stop a spouse from selling marital property till my motion for new trial is started [ 4 Answers ]

I have a motion for new trial set for hearing after 25 days as I was not informed about the divorce proceeddings at all. I was out of counrty for some time and my spouce got a divorce and all the property in Dallas, TEXAS. Now my spouse is trying to sell the marital property (house, shop, cars)...

Marital property vs. Separate in nc [ 2 Answers ]

We've been married for 4yrs. We both owned houses before marriage. I rented "mine" out and we lived in "his". Are the houses marital or separate under NC law? I've tried to research on the net but can't come to a definite conclusion. My realtor told me we split both homes. Somebody help!

Marital Property Expenses during separation [ 2 Answers ]

I am separated pending a divorce. My ex met someone else and moved out to live with him. I am living in condo until it sells - which may take a while. Since condo is in joint name and is marital property, is she responsible for some part of the monthly condo maintenance fee and insurance premium? ...

Division of marital Property [ 1 Answers ]

I live in Florida. My wife just left me for a younger man. I am retired -age 65 and she is working age 44. This was second marriage (15 yrs) for both of us. We have no children by this marriage. Since I am now on a fixed income and would have difficulty finding employment at my age, and since she...


View more questions Search