Annulment Question

[PleaseHelpMe14]

What is the name of your state (only U.S. law)? WISCONSIN

Is my home in Wisconsin legally mine as individual property to sell before the annulment is granted if I owned it prior to the marriage and my name is only on the deed/title?

 

[mistoffolees]

What is the name of your state (only U.S. law)? WISCONSIN

Is my home in Wisconsin legally mine as individual property to sell before the annulment is granted if I owned it prior to the marriage and my name is only on the deed/title?

Not necessarily.

Were marital funds used to pay the mortgage, taxes, and upkeep?

 

[PleaseHelpMe14]

Annulment Question pt 2

We were married only 5 months, he did not pay the property taxes as he said he did, we borrowed from my parents to make 2 of the mortgage payments. One time he did pay the mortgage but he caused me to get a Judgement against me from a check loan place for the mortgage after he said he paid that. I was never late with a mortgage payment before I met him and in the short year I knew him, I've been fighting foreclosure ever since. I was able to get the lender to agree to a short sale instead of a sheriff's auction but they want to close in 2 days and the annulment isn't finalized yet. He has a no contact with me and it's impossible to get his signature for a quit claim deed.

 

[mistoffolees]

I would guess that your easiest solution will be to get a court order awarding you the house in the divorce - which should take the place of the quit claim deed.

He could easily argue that he's entitled to 1/2 of the marital equity, but since there would have been almost no increase in equity during the marriage, you'd be fighting over an insignificant figure. I'd personally come up with some way to estimate the increase in equity over the marriage (probably by assuming that the home value didn't go up, and then using the decrease in mortgage balance as the equity gain), and offer 1/2 in the settlement proposed to the court. You might be able to argue that he's not entitled to any of it, but that's probably a losing battle - and would cost more than you'd save.

Unfortunately, if he won't sign a quit claim deed, there's nothing that you can possibly do to resolve the issue in 2 days. ANYTHING that you might do is going to take much longer than that.

 

[LdiJ]

I would guess that your easiest solution will be to get a court order awarding you the house in the divorce - which should take the place of the quit claim deed.

He could easily argue that he's entitled to 1/2 of the marital equity, but since there would have been almost no increase in equity during the marriage, you'd be fighting over an insignificant figure. I'd personally come up with some way to estimate the increase in equity over the marriage (probably by assuming that the home value didn't go up, and then using the decrease in mortgage balance as the equity gain), and offer 1/2 in the settlement proposed to the court. You might be able to argue that he's not entitled to any of it, but that's probably a losing battle - and would cost more than you'd save.

Unfortunately, if he won't sign a quit claim deed, there's nothing that you can possibly do to resolve the issue in 2 days. ANYTHING that you might do is going to take much longer than that.

I am going to disagree with this advice. She is the only person on the mortgage and deed and she clearly stated that its a short sale.

Therefore, there is nothing stopping her from selling the house, and clearly there is no equity to divide.

I cannot imagine why she would need a quit claim deed from him. He was never on the deed to start with.

 

[mistoffolees]

I am going to disagree with this advice. She is the only person on the mortgage and deed and she clearly stated that its a short sale.

Therefore, there is nothing stopping her from selling the house, and clearly there is no equity to divide.

I cannot imagine why she would need a quit claim deed from him. He was never on the deed to start with.

I missed the part about the deed. You're right that no quit claim should be needed.

I would take the short sale and then do what I said - calculate the marital equity (zero) and offer to give him half.

 

[Ohiogal]

I am going to disagree with this advice. She is the only person on the mortgage and deed and she clearly stated that its a short sale.

Therefore, there is nothing stopping her from selling the house, and clearly there is no equity to divide.

I cannot imagine why she would need a quit claim deed from him. He was never on the deed to start with.

He would need to quit claim it due to the fact that he needs to get rid of his MARITAL/dower interest -- it may be nothing more than a paperwork issue but most title companies REQUIRE it. Also when a divorce is pending, there is normally a restraining order in place prohibiting the transfer of ANY property during the pendency.

 

[LdiJ]

He would need to quit claim it due to the fact that he needs to get rid of his MARITAL/dower interest -- it may be nothing more than a paperwork issue but most title companies REQUIRE it. Also when a divorce is pending, there is normally a restraining order in place prohibiting the transfer of ANY property during the pendency.

That varies a whole lot from state to state. It wouldn't be necessary in my state at all.

Also, this house is going to be transferred whether the courts like it or not. Its either going to be a short sale or its going to be a foreclosure, but its GOING to be transferred.

There also isn't anything that her stbx could get out of the house.

OP, get yourself a quick consult with a local real estate attorney to see what the requirements are in your state. I would really hate to see you lose the opportunity for this short sale and end up in foreclosure instead.