What are the risks if a divorcing couple creates their own settlement agreement?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What are the risks if a divorcing couple creates their own settlement agreement?

Does it negatively impact the primary financial contributor for the house?  I paid the downpayment for the house and am the only one on the loan. My ex contributed to 4 months of the mortgage prior to being removed with a protection order for abuse. I have since paid the mortgage by myself for 14 months. We were only married 7 months. We have fought between lawyers for the last year to reach a settlement agreement and have depleted each of our savings. My ex states that we do not need a settlement agreement. I know we need one and at the very least want to create our own. What are the risks to creating our own? I do not have money for the lawyer anymore.

Asked on December 30, 2010 under Family Law, North Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

Listen, it is always best to agree on the settlement of the issues between you but it is always a risk that you are not in compliance with the laws on distribution of assets if you do no have an attorney at least review it on a consultation basis.  That really may be the way for you to go.  Although it appears from what you have written that you are the owner of the house it was purchased during the marriage, correct? You need to protect yourself and the money you have paid part of your ex's obligation, get a credit for the down payment but make sure you are not ripping off your ex.  Good luck to you.  


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption