Legal Question in Wills and Trusts in Florida

Is this standard language for a ''Family Agreement''?
Upon A's death, ''B. will pay C. one half (1/2) the appraised value (of the homestead property) less the outstanding balances on any mortgages or debts secured by the property within six (6) months of A's death.'' (?) It reads to me that any o/s balances / secured debts will come out of C's half; yet the attorney said the division comes after deducting said o/s balances / secured debts. Which is correct? I just want to make sure I didn't make a mistake in signing this. Is this an equitable division of real property? Thank you!!

Asked on 10/29/07, 12:09 pm

Mitchell Roth MW Roth, Professional Law Corporation

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Re: Is this standard language for a ''Family Agreement''?

If it isn't clear to you change the language to make it clear. Otherwise don't sign.

It doesn't matter what your attorney thinks it means. What matters is that it is clear to anyone what it means. Don't accept ambiguity.

Answered on 10/29/07, 1:13 pm

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