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.
This is not a real estate issue but a divorce issue. The divorce laws will decide the outcome. Since you gave up any rights tot he property when you sold it to them, it will bean issue between them as husband and wife. Any desire you have to what it should be went right out the window the day you sold your piece of that pie. It could be split 50/50, it could go mostly to her with some small piece to him, it could go all to her, it could go mostly to hima nd she gets a small part of it, or it could go all to him. This is for a divorce lawyer to fight out with the court because its no longer has anything to do with real estate law. Hopefully you had it titled to protect your family interest, if not, it's out of your hands and into the hands of a judge.
I am aware that this is a divorce issue. I am also aware that it can be decided in many ways depending upon the judge. I guess what I am searching for is as I said, an educated guess as to what the judge will do. I was hoping that someone knows case law well enough to offer me that guess.
Your assessment, Chicagojlo, is spot on. It is sad that someone who contributed so little emotionally or financially is now trying to capitalize on a situation that he helped create. He is angry and is not concerned with doing what is right, but what will bring the most hurt to my daughter. And I kinow the courts are not always "fair". Already in the custody battle it has been made clear that the court doesn't mind that he is a felon, has three dui's and no license. He is seen by the court as squeaky clean as, well, my daughter, whose record IS squeaky clean!
How was the property titled? that's the main thing that will guide a judge or may handcuff them to a certain decission. If they titled it so it is owned by both, it's owned by both. If proper advice from a lawyer was not done, you and your daughter have to suck it up as a lesson learned the hard way. I hope she won't repeat the error and at least spring for a good lawyer in the divorce. If all of you were competent adults when the transactions occured, you just have to live with results of that decission, even if it wasn;t what anyone hoped for.
As for who's squeeky clean, if she married him knowing all that baggage on his record, lets be honest here, she may not be Ms Sweetie Pie squeeky clean as you think.
As was previously mentioned, how the title was transferred could well become the determining factor. If both are on the deed, it is de facto "marital property" and will be treated as such.
On a personal level, that is an issue I narrowly escaped...
PacificFlights has it right - she married the guy and had a child with him. At some level she had to have known he was a lowlife. Sadly she's learning the expensive way that no amount of love can change a person.
I am aware that this is a divorce issue. I am also aware that it can be decided in many ways depending upon the judge. I guess what I am searching for is as I said, an educated guess as to what the judge will do. I was hoping that someone knows case law well enough to offer me that guess.
Your assessment, Chicagojlo, is spot on. It is sad that someone who contributed so little emotionally or financially is now trying to capitalize on a situation that he helped create. He is angry and is not concerned with doing what is right, but what will bring the most hurt to my daughter. And I kinow the courts are not always "fair". Already in the custody battle it has been made clear that the court doesn't mind that he is a felon, has three dui's and no license. He is seen by the court as squeaky clean as, well, my daughter, whose record IS squeaky clean!
Divorce and custody law is highly state specific. I know "case law" for Maryland, but even if your daughter lives in Maryland, I would not wager an outcome without knowing more facts, the specific court and possibly, the judge assigned to hear the case.
Hmmm. On the squeaky clean issue, I must say in my daughter's defense that she has a "social worker" mentality. She wants to save the world. She sees a "lowlife" and instead of running she thinks "How can I help him?" She tends to see only good in people and thinks that if SHE is good enough she can help them. Not an excuse, just an explanation. As her mom, believe me, it is difficult to stand by and see those poor choices with no ability to control them. I appreciate her optimism, but I am much older and far more cynical.
Thanks, everyone! When and if there is ever a ruling on this (Illinois) I will post. Maybe someone can learn from our mistakes.
After living there for one year they got a mortgage and bought out my half of the property at far less than market value (my choice, wanted them to have a good start in life).
Question, since I'm seeing it all over the forums these days. You said they bought it from you at far less than market value (at that time). Is there still equity in the home at this time with current market values? That could easily effect the judge's decision as well. If the house is currently upside down, the person who ends up with it isn't really getting any favors from the judge, and shouldn't be ordered to sell the house or buy the other person out. But they also wouldn't be able to refinance to get the other person's name off the loan.
I'm assuming from what you said that there is likely still equity, but in today's market, you just never know.
Housing prices haven't changed much, so its value is about the same as it was when I sold my half. The house is worth about $190K. So, each half would have been worth about $95K. I sold my portion to them for $75K. So, yes, there is a lot of equity in the home. I am pretty sure my SIL is seeing at least half of $37K (half of the half they refinanced) or even $95K (half of total value of the home) as being due him.
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.
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.
