- 7 - Based on Richard’s agreement to list the parcels, the divorce court agreed not to incarcerate Richard. Thereafter, the farm acreage and the residence acreage were unsuccessfully listed for sale at a price not disclosed in the record. By the spring of 1998, the farm acreage and the residence acreage had not sold, and Marilou had not received any portion of the $84,000 specified in the 1994 divorce decree relating to her interest in the farm acreage and the residence acreage. Richard was delinquent in obligations he owed under the divorce decree (e.g., mortgage payments and real estate taxes due on the farm acreage and on the residence acreage), and Marilou’s name was still on the deeds. John, who at the time was 24 years old, agreed to purchase from Richard and Marilou for approximately $45,000 their interests in the farm acreage. The $45,000 represented the payoff of the mortgage on the farm acreage, and the payment of overdue real estate taxes, plus a $30,000 cash payment to Marilou. John’s offer represented an attempt to keep the farm acreage in the Suchar family while at the same time providing funds that could be used to pay Marilou a portion of the value of her one- half ownership interests in the farm acreage and in the residence acreage.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011