My ex-husband and I owned a home together. He agreed in our final divorce settlement to a buy out of $40,000 payable over three years. The first year (2007) $15,000, second year (2008) $15,000 last year (2009)$10,000. I refinanced the home into my name and he signed a QuitClaim Deed. Our final divorce papers were signed on November 30, 2006. He signed the Quit Claim Deed February 2007. My question:
The QuitClaim Deed states that "in consideration of the sum of $15,000 in hand paid by grantee, the receipt whereof is hereby acknowledged, do hereby remise, release and quitclaim unto the said grantee forever, all the right, title, interest, claim and demand..." Since he signed this quit claim deed after the final divorce, I am I still obligated to pay him the remaining $25,000. He was paid the first $15,000 when he signed the quitclaim.
I don't think he realized what he was signing, because at the time all he cared about was receiving his first $15,000. Considering what the quitclaim deed states, I do not believe that I am legally obligated to pay him the rest of the money due to the fact he signed away his rights.
Can you please advise??? I live in NJ.