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  #1  
Old 05-03-2004, 08:31 PM
Gilly Bean
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Question

Divorce question- Michigan


What is the name of your state? Michigan

I have two friends going through a divorce. One is my best friend, the other is my husbands best friend, which at best, puts us both in a sticky situation.

Anyway, they bought a house together last spring, which she no longer wants. He wants it, but was at first unable to make the payments on his own, so they have decided to sell it.

Now, however, his family has come up with a large amount of money for him to pay off the furniture they recently bought, all his credit cards, and still put down a good portion towards the house, which will lower his monthly payment almost in half.

Now, his uncles started feeding him some line that since his wife was a cosigner, that regardless of a divorce, or signing off rights, she still owes half the monthly payment until the house is completly paid off.

Overall, I've been highly sympathetic towards him, because she dropped this on him, without having talked to anyone, including me, her best friend. Well, now his uncles have him convinced that she owes him money towards the house, and told her she needs to pay 10,000 up front, or he'll demand his monthly payments from her. Surprisingly, she asked no questions, and just said she'd talk to her family, and see if they can come up with it right away.

Is that right? Does anyone know about the property laws during a divorce in Michigan? It doesn't soud right to either me or my husband. She wouldn't be signed on it, and would hold no equity in it, either.

Any answers or insight would be appreciated.
  #2  
Old 05-03-2004, 08:57 PM
coosi
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What is the name of your state?[url]www.michigandivorcehelp.com/divorceprocess/property_division.php[/url] -

This site addresses property distribution in Michigan.

Is he still planning to sell the house?
If yes, why would she need to give him money just to get it back when it's sold?
If no, why would she give him money that he will have to "buy out" from her in order for him to keep the house after they're divorced?

Assuming she is no longer living in the house, giving him money for it ("lump" or half the payments) makes no sense.
  #3  
Old 05-03-2004, 09:02 PM
Gilly Bean
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After getting the help of his family, he is planning to keep it, though right now, he has vacated the premise at her request.

She is living there now, and plans to remain there until the house is sold, or that's what she was planning to do before he told her today that he plans to keep it. I'm not sure what she'll do after. She doesn't tell anyone what her plans are. Everyone is learning it 2nd hand from someone who learned it on accident in the first place.

I just don't think it sounds right that she is supposed to pay HIM to leave the house herself. I was under the impression that he'd have to 'buy' her out of her half. The bank said that minus the debt, the actual equity of the house is only around $3,000, which means he'd have to give her $1,500 for it. Or, that was what his plan was as of yesterday. Now as of today, his uncles have been feeding his mind.
  #4  
Old 05-03-2004, 09:05 PM
Gilly Bean
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Oh, thank you for the website, purusing that now.
  #5  
Old 05-03-2004, 09:12 PM
coosi
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What is the name of your state?She is living there now, and plans to remain there until the house is sold, or that's what she was planning to do before he told her today that he plans to keep it.
**Then SHE should be paying the mortgage (like rent) for a place to live

I just don't think it sounds right that she is supposed to pay HIM to leave the house herself.
**This doesn't make sense to me, see previous post

I was under the impression that he'd have to 'buy' her out of her half. The bank said that minus the debt, the actual equity of the house is only around $3,000, which means he'd have to give her $1,500 for it.
**Sounds right (but the mortgage should be paid by the person living in the house)

If he wants to keep the house, his family should help him 'buy her out' and then wait until the divorce before helping him with reducing payments IMO
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