d) Division of Sales Proceeds: Both parties agree that the Husbands father let them borrow Sixteen Thousand Dollars ($16,000) to purchase the home and it is agreed that this sum shall be paid back to him from the proceeds of the sale of the property/martial home before a division is made between the parties of any remaining proceeds from the sale of the marital property. At the closing of said sale, each party will be entitled to one-hale (1/2) of the "net sales proceeds" as define herein and shall direct the closing attorney or other responsible person to divide same the parties equal shares. For purposes of this Agreement, the term "net sales proceeds" shall mean the gross sales proceeds due the seller less the outstanding balance on the first mortgage, the sum of Sixteen Thousands Dollars ($16,000) owed to Husband father shall be paid off and commissions, taxes, or other expenses of the sale for which the sellers are liable.
When my son and his ex-wife bought the home the money was given as a gift.
But I wonder if the divorce settlement changed that?
