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Torgesen v. Torgesen

Where time was not of the essence, the parties were required to perform their duties under a settlement agreement within a reasonable time.

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Carolyn Torgesen and Karen Brumbalow, in their capacity as co-administrators of the Estate of Allan Torgesen, the “estate” appeal from the trial court’s order declaring that Trudy Torgeson, the ex-wife of the deceased, had no obligation under a marital settlement agreement the “agreement” to convey her interest in real property to the estate of her former husband. Because we agree with the estate’s contention that the trial court misinterpreted the agreement, we reverse. The record shows that the deceased and his ex-wife entered into the agreement on May 22, 2002. The agreement provided for a division of their real and personal property, debt, life insurance, and retirement benefits. With regard to their real property,1 the agreement provided: a The Husband shall receive all right, title and interest in the marital residence . . . subject to the following: Husband shall refinance the existing mortgage on the marital residence and have wife’s name removed from the outstanding debt obligation on the marital residence within twelve 12 months of the date of this agreement; b Husband shall be responsible for making the monthly mortgage payment and shall indemnify and hold wife harmless from any mortgage debt on the marital residence; c Upon being removed as a party to the outstanding debt on the marital residence, Wife shall execute a quitclaim deed to husband relinquishing her interest in the property. The agreement did not expressly provide that time was of the essence.

The husband died as a result of cancer on September 17, 2002. Due to an unrelated dispute, the administrator was not issued letters testamentary until January 31, 2003.

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