Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-02-2015, 06:49 PM
 
Location: The Triad
34,090 posts, read 82,716,942 times
Reputation: 43659

Advertisements

Quote:
Originally Posted by Hollynla View Post
So you two were married and bought a house together, but for credit reasons put it only in her name.
Once you separated, she continued to make the payments herself and has now sold the house which resulted in a loss and you feel like she screwed you over?

Am I missing something?
Yes, you are.

What the net equity was at the time that they split up?
She owed him at least HALF of that number.
Reply With Quote Quick reply to this message

 
Old 01-02-2015, 07:05 PM
 
Location: Homeless
17,717 posts, read 13,482,037 times
Reputation: 11994
Quote:
Originally Posted by Hollynla View Post
So you two were married and bought a house together, but for credit reasons put it only in her name. Once you separated, she continued to make the payments herself and has now sold the house which resulted in a loss and you feel like she screwed you over? Am I missing something?

Umm yeah the money I put down on it.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 07:09 PM
 
Location: USA
2,830 posts, read 2,634,326 times
Reputation: 4907
Quote:
Originally Posted by reed067 View Post
Umm yeah the money I put down on it.
No, if yall were married, the money belonged to both of you.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 07:10 PM
 
Location: Salem, OR
15,539 posts, read 40,308,808 times
Reputation: 17422
Quote:
Originally Posted by reed067 View Post

Which she did list it but she didn't do much else but list it the house & let it sit on the market. Furthermore she didn't list it until a year after the divorce was final. so she really had only had it on the market for a year. So she was in no hurry to do so.
If the house sat on the market for a year, that seems like a really, really long time for such an inexpensive house.

Quote:
Originally Posted by reed067 View Post
bought the house for $118,000 & I put $20,000 down on the house myself. The contract said that when the sell of the house was over she was supposed to give me $7,000. no, that's not a huge amount of money I've already lost $20,000 with what I put down on the house. I am trying to get so emotional about this but I feel she did whatever she could to get out of paying me any money.
Well it depends on what your contract says. If it says that she owes you $7,000 when she sells the house, then she owes you $7,000. If the intent was that she give you $7,000 from the proceeds of the sale of the house, which it sounds like is her interpretation, then it seems she owes you nothing. What did you two intend when you wrote that up without an attorney?

Quote:
Originally Posted by MrRational View Post
Yes, you are.

What the net equity was at the time that they split up?
She owed him at least HALF of that number.
That is typically how it is done, but since they didn't get an appraisal at the time to determine what market value was at that time, which is what an attorney would have done, I don't see how they can determine that value.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 07:10 PM
 
Location: southwest TN
8,568 posts, read 18,069,299 times
Reputation: 16702
Quote:
Originally Posted by reed067 View Post
This is the message that I got from her.


The house has sold. it sold for 105,000. I had to pay closing costs, realtor fees, and repairs on the hvac as well as some plumbing. I ended up bringing $2000 into it in order to sell the house. I am sorry but there is nothing to split.


Ok, Our agreement was that she had two years to give me so much money because I had put down the down payment on the house when we bought it. She had TWO years to give me the money she owes me from the sell of the house. Which she did list it but she didn't do much else but list it the house & let it sit on the market. Furthermore she didn't list it until a year after the divorce was final. so she really had only had it on the market for a year. So she was in no hurry to do so. We bought the house for $118,000 & I put $20,000 down on the house myself. The contract said that when the sell of the house was over she was supposed to give me $7,000. no, that's not a huge amount of money I've already lost $20,000 with what I put down on the house. I am trying to get so emotional about this but I feel she did whatever she could to get out of paying me any money.
So you believe that the separation agreement provided for her to pay you $20K. You need to read it carefully because from what you are saying, she was to give you $20K from the SALE of the house. There was no extra, so you can't get your $20K unless

your divorce decree specifically says you will get back your $20K but only after she SELLS the house.

This is why you should have gotten an attorney to help you write the separation agreement. It wasn't the judge's responsibility to make sure your sep ag was worded to avoid this kind of confusion. Additionally, was it specified in the sep ag who would pay the continuing mortgage/taxes/insurance and make repairs? So you see, there's lots to interpret from what you've poorly expressed to us. It's a little late, but you need to see a lawyer.

Quote:
Originally Posted by MrRational View Post
Yes, you are.

What the net equity was at the time that they split up?
She owed him at least HALF of that number.

Maybe and maybe not. Maybe she only owed him $20 from the SALE (not the sell) of the house - meaning out of any proceeds. From his poorly worded explanation of what he wants/expects, I'm guessing the sep ag was also poorly worded and doesn't provide for what he believes.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 07:11 PM
 
Location: USA
2,830 posts, read 2,634,326 times
Reputation: 4907
Quote:
Originally Posted by MrRational View Post
Yes, you are.

What the net equity was at the time that they split up?
She owed him at least HALF of that number.
If she were buying him out, then that would probably be the case, however there would have needed to be an appraisal and a lawyer to calculate the actual amount.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 07:42 PM
 
Location: The Triad
34,090 posts, read 82,716,942 times
Reputation: 43659
Quote:
Originally Posted by Hollynla View Post
If she were buying him out....
or being permitted to remain in place until such time as she was ready to move on
and/or (very likely) until the market recovered more without forcing a sale or for her to refi.

Had the sale produced MORE than the previous assumptions...
do you thing the ex would volunteer to pay the difference?

Quote:
however there would have needed to be an appraisal
and a lawyer to calculate the actual amount.
Correct. All issues previously addressed
and a shortcoming the OP is only now realizing the foolishness of.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 08:58 PM
 
Location: MID ATLANTIC
8,669 posts, read 22,853,798 times
Reputation: 10490
Two years ago, it was likely a short sale. Did she make all of the payments on her own since you left? Unless it was a defined buyout (value as of xx date), you could very well owe $1000. Oh, and let me guess, you gave her a GIFT and signed you did not expect repayment?

I think you had too high of an expectation. If you had asked her to sign a note, you may have had a shot. But get an attorney now is only going to get you legal fees, it doesn't sound like she has anything you can sue for.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 09:40 PM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,053,397 times
Reputation: 27078
If the divorce decree says that she has to give you $7000 when the house sells, then she has to give you that amount unless the decree specifically states she only pays you if she makes money off the sale.

If it doesn't say that, I'd sue her for the money.
Reply With Quote Quick reply to this message
 
Old 01-02-2015, 10:04 PM
 
13,113 posts, read 20,856,336 times
Reputation: 21318
Quote:
Originally Posted by reed067 View Post
Ok, Our agreement was that she ..........
Meaningless what you say the agreement said.
Meaningful to quote the exact wording of the agreement.


The exact wording is the only thing that matters because regardless of what you think it said, it will be enforced according to the exact words used in the agreement (that may not be what you thought it meant)
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Similar Threads

All times are GMT -6. The time now is 02:43 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top