What do u do if in the divorce agreement it states wife will have exclusive use of homeplace. And after three years we have to split the profit or loss if mortgage is sold or foreclosed on. It does not state what happens after the three years and wife is on deed not mortgage. Any answers are welcomed.
2 Answers from Attorneys
It means that you made a horrific (and maybe unfixable) mistake in not using a lawyer. See one now, show him the exact language, and if there is a fix (and there may not be), expect an expensive court case that would have been avoided by using a lawyer.
You need to take the divorce agreement to an attorney. If you quoted the exact language in the agreement, there are many interpretations that may have to resolved in court. It could mean she remains in the house indefinitely under the exclusive use provision. It could mean after three years the house has to be sold and the proceeds divided. The court could find another meaning or determine the divorce decree did not resolve the matter.
Retain an attorney this time to advise you on the matter or at the minimum, take the time and spend the money to have an in-office attorney consultation.
I am available to discuss this with you further if you want to schedule an initial consultation in my Norcross office. (770)367-1234 or [email protected]
5435 Peachtree Parkway
Peachtree Corners, GA 30092