help with broken divorce aggrement

[sal7272]

Basically parents divorced mother kept house father gave his half to his kids. When the mother sold the house she didn't give the kids half. Trying to fix it now without making her sell her house to give us the money. But there is a new husband involved. The children want a document made saying we own or are owed a certain dollar amount and we have the rigth to cash out and ask for the money or we automatically get it when she dies. Is this document a will? A trust? Or should the kids name be put on the deed cuz they own half. Which the mother is admitting and co-operating also step father on the new deed. What's the best route to take or document to have??

 

[jharris352]

This is a confusing question. When the Father, "Gave his half to the kids." How exactly did he do that? He must not have quit claimed it to the kids because if he had Mom would not have been able to sell the house without the signature of the kids.

If he did not quit claim the house then there was no actual transfer of ownership and I'm not certain the kids can enforce their supposed "ownership."

If Mom is good with this and agrees she spent the kids money, then she could give them a security deed against her house that is due and payable upon her death. That would give her estate and other heirs the opportunity to pay off the lien if they wanted to keep the house. I really need more information.

 

[sal7272]

Thanks for the response here's more info

The children had a trustee that if the mother were to sell the trustee was instructed to put the money into a savings account at the highest interest rate until the children reach the age of 21. The mother had the trustee sign her rights away to the agreement. The trustee was the mother's, mother the kids grandmother. Because at that time she didn't want to sell she wanted to re- marry. The divorce aggrement stated if she was to re-marry she had to either sell or buy our half and give it to the trustee to put in an account untill the children turned 21.

 

[jharris352]

So who dropped the ball? The trustee? According to your first post she sold the property and used the money to buy another property. I would hate to sue Grandma but she didn't do what she was suppose to.

At this point I would present Mom with an ultimatum. She needs to either sell her house and give you the money, or she needs to take a loan out to cover your part of the money.