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Real estate after a divorce. Am I required to meet my ex-wife's request for$ 6000?

Albany, NY |
Filed under: Divorce

My wife and I divorced 3 years ago. She gave me $25,000 dollars for my part of the house on the basis that we would sell for 160,000 as this was the evaluation at the time. She took ownership for the house. She hasn't sold it. She has emailed me looking for 6000 as she's considering selling lower than 160000. Real estate prices have gone down since the divorce. She could live in the house, but chooses to live with her parents, and as such considers the expense of the house an imposition. Would I be liable to pay he anything? We have no children. Thanks.

Attorney Answers 3

Posted

If your agreement said the house is worth $160,000 and she is buying you out for $25,000 (nevermind what the mortgage balance was at the time) and you transferred title and she paid you, it is a done deal unless for some reason you were to have your amount recalculated in the future (highly unlikely). Just ask her if she sold the house for $200,000 would she be sending you some extra money....I think not. It is what we call the risks of changes in value in any investment...stock, house, business, etc.

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5 comments

Asker

Posted

Thanks very much, Steven.

Steven P. Kuhn

Steven P. Kuhn

Posted

Your welcome. Please consider marking my answer "best answer" if it was. Thanks.

Asker

Posted

Sure.

Anthony J. Pietrafesa

Anthony J. Pietrafesa

Posted

The attorneys have given you sound advice. If she thinks she made a "bad deal," so what? Would the Red Sox wanted Babe Ruth back after the trade to the Yankees for Herb Pennock, or want to return them Danny Cater after trading Sparky Lyle? Sure, but a deal is a deal. Though, never underestimate the entitlement culture of ex-spouses.

Asker

Posted

That's hit the nail on the head "entitlement".

Posted

As Mr. Kuhn stated, you have been paid out and she has no more claims against you.

I am an attorney with over a decade of experience in Matrimonial and Family Law with offices in Brooklyn and Manhattan. I have experience in all five boroughs as well is Nassau and Suffolk County. The opinion expressed in this ad based upon the limited information provided and do not indicate an attorney-client relationship

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Posted

Based upon your question, your ex bought you out at the market value at the time. That she did not sell at that time is her fault and she has no basis to ask you for return of any monies.

This advice is not meant to create an attorney-client relationship and is a general anwer to the question posed.

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