Question:
Can a divorce decree be modified after several years for division of property, if in the decree, both parties state that they would work out the split when the time came to sell the property?
There are no children in the marriage, and my state is an equitable division state. Is there a way that the decree can be modified if one party tries to modify it?
Also, if property is to be divided anyway, would the amount to be split be decided based on the property value/equity at the time of the divorce, not the current value/equity?
Answer:
I am not licensed in your jurisdiction but I will answer your question based upon my experience. In my state, once an agreement and/or decree in divorce is entered, the parties are bound by those terms unless they agree, in writing, otherwise.
In my state, unless the terms are specific and state otherwise, all marital property will be divided as of the date of the divorce, although your case appears to be a bit more complicated in that regard.
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Dan Pearce is an Online Editor for Lexicon, focusing on subjects related to the legal services of customers, Cordell & Cordell and Cordell Planning Partners. He has written countless pieces on MensDivorce.com, detailing the plight of men and fathers going through the divorce experience, as well as the issues seniors and their families experience throughout the estate planning journey on ElderCareLaw.com. Mr. Pearce has managed websites and helped create content, such as the Men’s Divorce Newsletter and the YouTube series, “Men’s Divorce Countdown.” He also has been a contributor on both the Men’s Divorce Podcast and ElderTalk with TuckerAllen.
Mr. Pearce assisted in fostering a Cordell Planning Partners practice area specific for Veterans, as they deal with the intricacies of their benefits while planning for the future. He also helped create the Cordell Planning Partners Resource Guide and the Cordell Planning Partners Guide to Alternative Residence Options, specific for seniors with questions regarding their needs and living arrangements.