- 10 - that were carved out and retained by Richard and Marilou. Hereinafter, references to the “farm acreage” refer to such parcel of real property without the 20-acre carve out (i.e., to the remaining 198 acres). Susan provided the $45,892 in cash, representing the total stated consideration due on this transfer to Carrie, Tracy, and Deborah of Richard’s and of Marilou’s interests in the farm acreage. Of the total $45,892 provided by Susan in connection with this transfer of ownership of the farm acreage, $12,589 was used to pay off the existing mortgage and $3,303 was used to pay off overdue real estate taxes, for both of which Richard was solely liable under the 1994 divorce decree, and the remaining $30,000 in cash was paid to Marilou. Thus, of the total $45,892 provided by Susan, $30,000 was paid directly to Marilou, and $15,892 accrued to Richard’s benefit by virtue of its use to pay off the mortgage and real estate taxes Richard owed under the divorce decree. Also on September 9, 1998, Richard executed a quitclaim deed transferring to Carrie his interests in the residence acreage and in the 20-acre carve out (hereinafter, references to the “residence acreage” generally refer to the residence acreage along with the 20-acre carve out). Marilou was a signatory and transferor on the September 9, 1998, quitclaim deed relating toPage: 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