Posted on: 26th Mar, 2009 03:33 pm
I just got divorced and the decree states that my ex will owe me $10,000 upon sale, refinancing, or pay-off of the home which he is staying in. I am supposed to sign a quitclaim deed. Do I sign this now or wait until he pays me the $10,000? He doesn't have the money now so I have to wait for one of the above 3 conditions to occur which could be years down the road. I feel uncomfortable doing the quitclaim before getting my money but that's what he wants. Is there any risk in signing it over now?
Hi hannahb,
It won't be a wise thing to do if you quitclaim it now, before you get the money from him. This is because there is no guarantee that he will pay you the money after you sign the deed and release your interest in the property.
It won't be a wise thing to do if you quitclaim it now, before you get the money from him. This is because there is no guarantee that he will pay you the money after you sign the deed and release your interest in the property.
Even if the divorce papers say he has to pay me?
Hi hannahb,
You are entitled to get what has been stated in the divorce decree. But often times it is seen that ex-spouse does not pay the amount that he or she owes to the other spouse. Then the case is dragged to the court once again where the judge has to intervene to settle the matter. Thus, I personally feel that you sign the deed only after receiving the money you are supposed to get from him, so you do not have to appear before the court once again.
You are entitled to get what has been stated in the divorce decree. But often times it is seen that ex-spouse does not pay the amount that he or she owes to the other spouse. Then the case is dragged to the court once again where the judge has to intervene to settle the matter. Thus, I personally feel that you sign the deed only after receiving the money you are supposed to get from him, so you do not have to appear before the court once again.