Free Trade Agreement


#1

Before I left my husband in 2007, I made him refinance the house to be in his name only and combine the 1st and 2nd mortgages. I signed a Free Trade Agreement to waive my rights to the house if he would give me half the amount of the estimated equity. We had the house appraised and he gave me my half of the money LESS $3300 because he felt I should have to pay half of the real estate atty fees. Because he reneged on his part of the agreement, does this mean I can go after half the house?


#2

I’m curious as to an attorney answer. I suspect it would cost more than $3300 in legal fees to pursue it. That is compounded by the fact that it is five years later. You sold half the house near the top of the real estate market. You should send him flowers and a thank you note. (No, not really, that would be rubbing salt in the wound.)


#3

I am also not an attorney, but $3,300 is nothing in a situation like this - if you had sold the house you surely would have received thousands if not tens of thousands less than you got due to all the closing costs involved, not just attorney fees. I don’t understand why he was so generous, but likely he felt this was a good compromise. A judge would probably agree that you got a smoking deal.


#4

It sounds like he gave you half the equity in the house less half the cost to refinance. You could sue him for the $3,300 if you think you’re entitled to it, but I can’t say whether you’d win.