Legal Question in Real Estate Law in Missouri
IMy wife and I filed a lawsuit against the seller of a house that we bought. The cause for the lawsuit was a dispute over construction work not completed. The defendant and I have now negotiated a settlement, which will be paid to me just as soon as my wife and I sign a Stipulation for Dismissal with Prejudice. The verbiage of that document reads as follows:
"COME NOW the parties and stipulate and agree that the claims and causes asserted by Plaintiffs in their Petition have been compromised and settled, and the Plaintiffs agree that their claims should be dismissed, with prejudice, with costs being taxed to Plaintiffs."
I have two questions:
1. What costs are being referred to in "with costs being taxed to Plaintiffs"? I want to be sure that I'm not somehow being asked to pay either the defendant's legal costs or court costs.
2. The settlement amount has been kept in escrow by the defendant's lawyer, with the verbal understanding that I will be paid the full amount in escrow once I have signed the document. But I'm concerned that no mention of that specific settlement amount is made in the document. Should I be?
Thank you for your help!
Steve Shepherd
1 Answer from Attorneys
Obviously, you and yrou wife should have hired counsel to answer your questions regardin teh settlemtn of yrou case. Not having seen teh actual settlemetn document, no one her ecan give you a difinitive answer as to your setlemnt. However, in similar documents using similar language, the term "costs" refers to the filing fee and cost of getting the defendant served with the Summons and Petition. Perhaos you can get the defenant's attorney to alter the agreement to read "each party shall bear their own costs"
Good luck
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