Property seperation

[Thad Everson]

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

Wisconsin

I need some advise regarding 2 pieces of property that my ex-fieonce and I own, she has decided to leave me and I will be retaining ownership of both property's I just need to know what my next steps are and how much she is legally entitled to.

One property we bought together and one I owned years ago and just recently put in both our names.

I hope that is clear and if not I will post more detailed information

Thank you

[mistoffolees]

Originally Posted by Thad Everson

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

Wisconsin

I need some advise regarding 2 pieces of property that my ex-fieonce and I own, she has decided to leave me and I will be retaining ownership of both property's I just need to know what my next steps are and how much she is legally entitled to.

One property we bought together and one I owned years ago and just recently put in both our names.

I hope that is clear and if not I will post more detailed information

Thank you

So you're not married? If you're not married, then there are no marital rights to discuss. Essentially, the property belongs to whoever the deed says it belongs to - so you just gave her a big gift if you are co-owners on the deed.

You should start by seeing what you can negotiate - the best thing is for you to reach an agreement without spending a fortune on lawyers.

Once again, buying property with someone you're not married to is a risky proposition - particularly if you don't spell everything out legally in advance.

[Thad Everson]

Thats what I thought,,,

[LdiJ]

Originally Posted by Thad Everson

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

Wisconsin

I need some advise regarding 2 pieces of property that my ex-fieonce and I own, she has decided to leave me and I will be retaining ownership of both property's I just need to know what my next steps are and how much she is legally entitled to.

One property we bought together and one I owned years ago and just recently put in both our names.

I hope that is clear and if not I will post more detailed information

Thank you

Seriously "ouch" on the second piece of property.

She is an equal owner of both properties, therefore she is entitled to 50% of the equity in the properties.

Since you were never married marital property separation rules do not apply. If you cannot agree on how to divide the properties you would have to file a partition suit, which is VERY expensive and time consuming.

On the first piece of property there should be no negotiation. She gets 1/2, period. On the second piece of property you should try to negotiate, taking into consideration any money that she put into the property (mortgage, insurance, remodeling, repairs etc.) and hopefully she will be fair. However, you may end up giving her 50% in the end.