how to inforce my option to buy her interest

What is the name of your state? new jersey

My wife and I were divorced in June, 2002. part of the agreement was that she had 45 days to refinance the marital home which she did. to buy my interest in the marital home she was to pay 30K, she has only paid 23k. The agreement further states that if she is unable to refinance I would then have 45 days to refinance and purchase her interest, for the same 30k. My question is: since she has not paid me off in full, does that negate her option meaning I can now refinance and buy her interest? To add to the confusion, the divorce settlement agreement has not been recorded and she has put the house up for sale.

[I AM ALWAYS LIABLE]

Originally posted by WW31
What is the name of your state? new jersey

My wife and I were divorced in June, 2002. part of the agreement was that she had 45 days to refinance the marital home which she did. to buy my interest in the marital home she was to pay 30K, she has only paid 23k. The agreement further states that if she is unable to refinance I would then have 45 days to refinance and purchase her interest, for the same 30k. My question is: since she has not paid me off in full, does that negate her option meaning I can now refinance and buy her interest? To add to the confusion, the divorce settlement agreement has not been recorded and she has put the house up for sale.

My response:

No, you can't refinance the house. She did, in fact, refinance the house pursuant to the Marital Settlement Agreement. However, unless you signed a "Quit Claim" deed to her when she gave you the 23K, she won't be able to sell the house without your signature too. Also, she might be trying to sell in order to pay you the balance.

If that's not the case, all you can do is sue her for breach of the Marital Settlement contract.

IAAL