Legal Question in Administrative Law in California
a contract...
my parents at the time of their
settlement for divorse signed and
agreement to divide their belongings
nd even got it notified. Suppose the
prices of the belongings change to an
unfair balance...could one of them
back out now and use the balance of
prices against the other...making the
contract no longer valid?
2 Answers from Attorneys
Re: a contract...
Very doubtful.....one takes the risk of market value changes when negotiating and agreeing to marital priioerty-settlement agreements. It might be possible if there were fraud or concealment involved, but even then property settlements usually become absolutely final after a relatively short time, I think one year. I'd say the contract is valid despite the market-value changes.
Re: a contract...
Assuming that they have both signed a binding written settlement agreement, they both assumed the risk that assets taken pursuant to the Settlement Agreement would change in value. The answer is most likely no.
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