CROSS POST: DH updated me on this whole equity thing
First and foremost, the decree I was referencing yesterday came from that crazy e-mail BM sent about a year ago where she outlined different sections and told DH he was breaking all of those sections (remember? She said we had to consult her before giving SS cough drops! :? ) The first thing that he said to me when he got home from work was that we needed to wait until our furniture/household items were shipped to us here because she left out parts of the section that references the house/equity situation and his copy of the decree is in that shipment. So, hopefully he's remembering correctly. Those things should be here within a few weeks.
BM and DH bought the house together. NONE of the numbers below are accurate, but to have this make more sense I'll use numbers. So, they bought it for $250,000. Almost five years later they had it appraised because the market would work in their favor. It appraised at $350,000. They put it on the market. THEN, BM filed for divorce. They estimated the equity to be $90,000. The money they were to split (this interest/equity that she is referring to) is $60,000 (so 30k each). The other $30,000 was to go to the realtor who was selling the house for them. That is how the figure she is saying DH owes her came about. He said that nothing other than that was done to come up with that figure.
Then he explained to me that the part BM left out says that he had to sell the house and give her the first $30,000 of the profit of the house. Well, we are in the process of a short sale, and it is selling for less than DH and BM originally bought it for, so there isn't any profit there.
After we talked about all of that, we looked up the statute of limitations on this. I forgot that when we met with DH's lawyer back before we moved overseas, he told us that there is a statute of limitations and he was pretty sure it was past the point where BM could do anything about this. For a written contract in the state in which they divorced, the statute is 6 years. The way we saw it worded on every website we read has us understanding that it is 6 years from the day in which the contract is entered. I am hoping that is true, and that it isn't 6 years from the day it says you have to pay it by.
So, from what he explained to me, things look more promising. He does not have the best memory, so I am hoping that what he is saying about that section of the decree is indeed what it says. He said he will not fly home for this, that his lawyer already said he'd represent him with DH being there, and that he plans to consult a second lawyer again after he contacts his lawyer today to make sure opinions are the same.
Thanks for all your support and help yesterday; anything else you can tell me that will help me understand the court system better, or anything that you can foresee BM throwing at us will definitely help!