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Old 02-03-2010, 11:02 AM
Free-spirit Free-spirit is offline
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Default SA Payment: How Long a Wait?

I am about to agree to a lump sum separation agreement. I was under the impression that as soon as I agree to the offer, they would send me the offical offer along with the funds. What is a reasonable amount of time to wait for the letter and funds? 48 hrs? One week? I would like to be able to put a definitive date for them to adhere to.
Thanks all
Old 02-03-2010, 06:17 PM
Mess Mess is offline
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They would be fools to send you the funds if you haven't already signed the agreement and had it notarized and filed with the courts.

Once the agreement is signed, notarized and filed they could pay you immediatly, the money is now owed. In my agreement I offered my ex 30 to pay all amounts owing, but that clause was my choice.
Old 02-03-2010, 08:45 PM
OttawaM43 OttawaM43 is offline
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Have a date in the agreement that after signing by both parties the money will be received within a certain time. They could drag this out after you sign. Been there done that.
Old 02-03-2010, 09:15 PM
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We agreed that my ex was to be paid within 30 days after signing the order on consent. That gives time to arrange financing etc.
Old 02-04-2010, 07:37 AM
Foredeck Foredeck is offline
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If you want the money immediatly, they could transfer the fund to your lawyer in trust. And, your lawyer would have instructions to only transfer you the money once all paperwork is signed and filed.

However, 30 days is reasonable, especially if they need to secure financing.

I plan on offering half right away and the other half within a few weeks once the mortgage is refinanced.
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