I have a friend who is divorcing with her husband now. She will move out but wants to help her husband to pay the mortgage for 4 years for children’s sake. In 4 years the house will sell and assets will be split at market price. Either her husband will buy her part out or sell the house then she can get ½ assets. How can she assure that her husband will keep this promise? What’ll happen if her husband doesn’t want to sell the house or buy her out? Thank you!
She needs to enter into a Separation Agreement and Property Settlement that specifies the terms of their agreement.
My friend worrys if her husband will break their agreements after 4 years. Is there anything that she can protect herself if that’ll happen? Thanks.
The separation agreement is what she needs to have done to protect herself and her interests in the home.
Also, if she’s on the deed, that gives her additional security, because then he cannot sell without her signature anyway…she would have to sign the papers at closing too…
If she has an executed separation agreement it is enforceable by the courts.