Real Estate after divorce

[briargal]

My brother got divorced 4 years ago in September this year. His ex wife has been living in the house according to the agreement. According to the decree, 4 years after the dissolution of marriage, the wife has first "go" at buying him out of his portion of the home. If she cannot do so, he has the chance to buy her out. If neither can buy the other out the following 4 years, the house must get listed for sale to the public.

Here is where it gets vague. In the decree..there is nothing that says that anything has to be in place on that 4 year anniversary. There is no time limit on when she has to buy him out by..

What I am trying to say is...if she turns around on the 4 year anniversary and says she wants to buy him out...it almost sounds like she has 4 more years to sit on it before doing anything about it like get her financing in order. Can this be right? Is this all open to interpretation?
Does the date in September really mean anything if nothing has to happen on that date?

 

[seniorjudge]

Unfortunately, most lawyers and most judges have no idea that the crap they put in judgments violates the rule against perpetuities (which I will not try to explain here).

In other words, somebody has to go back to court to get the judgment clarified.

You have outlined a major problem; it must be solved and it will not go away.

 

[briargal]

rule against perpetuities?

I thought that this really only applied to real estate and wills?

 

[lwpat]

After four years he needs to make a demand that she either buy him out at x dollars or he will buy her out at x dollars and give her 60 days to reply. If she does not he can go back to court for a declaratory judgment.