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Old 06-02-2011, 11:31 AM
 
11 posts, read 18,069 times
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My daughter and I inherited my mother's home. Shortly before my mother's death, my daughter married. She and her new husband moved into my mother's home (mother was in nursing home/hospice). 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). Fifteen months later they separated. My daughter made all mortgage payments after they separated. Prior to that they had split the mortgage payment between them.

Now that they are in the process of a divorce, what can my soon to be ex-son-in-law expect to receive legally in terms of the house? His attorney, when asked about SIL signing a quit claim deed, said that SIL would sign one and they would discuss my daughter "buying him out."

I can not imagine what there is that SIL feels he is entitled to. He lived there a year for free, their mortgage is 30-year fixed, he resided there for fifteen months and walked away.

Any educated guesses on the outcome of this situation? Their divorce/custody is going to trial...
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Old 06-02-2011, 12:25 PM
 
Location: The Triad (NC)
31,517 posts, read 70,515,448 times
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When she bought you out... was the husbands name on the mortgage loan needed to do that?
Is the property now titled in "joint tenancy" with his name on it?
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Old 06-02-2011, 12:26 PM
 
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Yes.
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Old 06-02-2011, 12:36 PM
 
Location: The Triad (NC)
31,517 posts, read 70,515,448 times
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Did you not have your own attorney involved in this deal?

Dragnet Theme Song (http://www.evtv1.com/player.aspx?itemnum=11004 - broken link)
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Old 06-02-2011, 01:14 PM
 
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No. What would an attorney done for me? I named an amount, they got the mortgage for that amount and paid me. Period.
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Old 06-02-2011, 01:22 PM
 
Location: The Triad (NC)
31,517 posts, read 70,515,448 times
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Not "period" at all.

For one... the lawyer would probably have advised you to structure the transaction differently like to make sure that the title of the family home remained solely in the name of the (blood) family members... so that in the event of a divorce your daughter doesn't have complications with a SIL who (I'm pretty sure) will now have a marital property interest he didn't have before.

for another... maybe keeping the home in a joint tenancy title with you and then you GIVING her a tax free gift each year equal to all (or part) of what they as a couple paid in rent to live there until your interest expires which still leaves the house in her name alone.

There are LOTS of other ways to have done this transaction than a straight up sale.
---

Do seek a good local RE attorney for help in addition to the divorce attorney.
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Old 06-02-2011, 01:44 PM
 
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I did offer them options before the transaction took place, but SIL was acting as though the house would not really feel like "his own" if they did not get a mortgage as they did. In the honeymoon phase of a marriage they weren't thinking of any "what if's". I was, but, if you have adult children of your own you will understand that it is difficult to convince them that they should prepare for a worst case scenario. It is difficult to convince them that you still remember your own name

That is past. 20-20 hindsight. My concern is NOW. I want to believe that the court will see a very short marriage and my daughter being more invested in the home both financially and emotionally. I would like to know what those two years that SIL lived in the home and paid half of the mortgage during that time would qualify him for in the eyes of the court. He got a value for his payments during those two years...a roof over his head. He did no work that would have increased the home's value. He simply lived there for $250 per month.
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Old 06-02-2011, 02:12 PM
 
2,060 posts, read 5,331,710 times
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If it were reversed and he had been the one inheriting the house, would you feel your daughter was entitled to nothing?

The judge has to follow whatever divorce laws are in your state. If he has rights under your state's laws then the judge has to give him what he's owed.
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Old 06-02-2011, 02:20 PM
 
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Yes. If he were in his grandparent's home which he had inherited then I sincerely doubt whether my daughter would even WANT any of it. They have
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Old 06-02-2011, 02:23 PM
 
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Sorry. They have a son and this is the home my daughter and my grandson live in. Son in law came into marriage with many debts. Daughter was debt free. She helped him to pay his debts. Not that that will enter the court decision. Oh. This is NOT a community property state.
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