Legal Question in Family Law in California

Property Settlement Issue

My 1972 divorce settlement included one piece of undeveloped property, to be maintained and held by my ex-husband for resale, at which time I would receive 1/2 the proceeds or 1/2 the purchase price, whichever higher. The agreement stipulated the property be sold within 3 years. At the time, the property was valued at less than purchase cost, so the sale was deferred. I have never signed a Quitclaim Deed, and the property has never been sold. I have contributed nothing towards maintenance of the property, which still remains a bare lot. My ex-husband now wants me to sign a Quitclaim Deed, in return for which he will give me 1/2 of the original purchase price. The lot is now worth approximately 5 times the original cost. My question is whether I am entitled to some portion of the increased equity value because the property was not sold within the stipulated period of time.


Asked on 5/23/06, 6:10 pm

3 Answers from Attorneys
Brian Levy, Esq. Law Office of Brian Don Levy

Reply: Property Settlement Issue

You may be entitled to one half of the present value, depending upon the specific language in the underlying Judgment.

For a specific opinion regarding your individual circumstances, I suggest that you consult with an experienced family law lawyer, and have your documents reviewed. Experience is not expensive, it's priceless!

You will find some valuable information on various California family law issues by visiting my web site.

Good luck to you!

Brian Levy, Esq.

www.calattorney.com

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Answered on 5/23/06, 6:25 pm
Norman Gregory Fernandez, Esq. The Law Offices of Norman Gregory Fernandez & Associates

Re: Property Settlement Issue

I agree with the previous lawyers response. It depends on the Judgement. I can review you judgment and render an opinion for a nominal fee. See my website at divorce-legal.net

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Answered on 5/23/06, 6:43 pm
Mona Montgomery Mona Montgomery, Attorney at law

Re: Property Settlement Issue

If your ex does not want to sell the property, you can get it appraised. You are entitled to 1/2 it's appraised value (or the sale price if it is sold) less the amount of money your ex paid for upkeep. Stay cool, don't get mad at your ex's insult. You might be able to handle this thing diplomaticcaly if you maintain your tact. Good luck.

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Answered on 5/23/06, 7:23 pm


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