Legal Question in Real Estate Law in Massachusetts
Promissary note and second mortgage in Divorce
In divorce judgement ex was ordered to sign ''quit claim deed'' to marital home and in return I am to sign promissary note in the amount of 20,000 plus accumlated interest which shall be paid to the husband upon the earliest to occur of the following events: 1) emancipation of the youngest child
2) within (3) months of the wife's remarriage 3) the wife's refinacing or sale of the house. Said promissary note shall be secured by a second mortgage running from the Wife to the Husband. I recieved the promissary note and second mortgage to review and sign. He added his own terms to the 2 documents. He added he can transfer note to anyone he chooses. That if I choose to rent the home to someone, the monies paid towards rent are to be paid to him towards the second mortgage rather than being applied to the original mortgage. That if I file bankruptcy (which I have) that I must pay the $20,000 to him at this time.
Is he allowed to write these and other terms into the documents or should the terms stay within the guildlines of judge's order as stated above? Thanks for your help. I don't think I should sign these papers and he is filing a contempt complaint on me. What should I do?
1 Answer from Attorneys
Re: Promissary note and second mortgage in Divorce
The terms should be the same as those in the divorce judgment. If you had legal counsel during the divorce, you should review this with your attorney. If not, your response to his contempt complaint would be that he is attempting to insert more favorable terms in the note than were agreed/ordered in the judgment. You should consult with an attorney to review the terms of the judgment and the proposed note.
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