Legal Question in Real Estate Law in California

Question regarding home property

My ex-husband and I divorced in 2007 and had a home together. In the marital agreement, he decided to ''buy me out'' of the home by getting it appraised and agreeing to pay 50% of the difference. He also agreed to refinance or sell the home to get me off the loan. The agreement states that he had 3 years to fulfill the agreement, and that the amount owed was based on data from the appraisal at the time of divorce. The amount due was also written up in a promissory note signed by him. He is now saying he doesn't think the appraisal was correct and wants to negotiate a new amount due to me. I am not willing to do this and to my understanding, since we have an agreement signed by a lawyer and a promissory note, that he owes me what was agreed upon in 2007. Is this a win-win for me if I take him to court? I just need advice.

Thanks


Asked on 6/01/09, 1:54 pm

2 Answers from Attorneys
Nancy Lewellen Palladian Law Goup

Re: Question regarding home property

You should return to your divorce attorney and have him/her give you advice as to how to enforce the marital settlement in court. Because most houses have dropped significantly in value in the last 3 years, it is no wonder your ex-husband wants to negotiate a new settlement, as if the appraisal was done today, he would likely owe you far less than the amount on the marital settlement agreement.

If the appraiser was licensed and used properties that had recently sold as comparables, you should be all right as to the value the appraiser established. Good luck.

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Answered on 6/01/09, 2:57 pm
David Gibbs The Gibbs Law Firm, APC

Re: Question regarding home property

This is a family law question, not a real estate question. I would suggest that you re-post this to the family law attorneys.

*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.

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Answered on 6/01/09, 6:24 pm


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