Home     Law Advice     Insurance Advice     Community    
Go Back   FreeAdvice Legal Forum > REAL ESTATE LAW > Other Real Estate Law Questions

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 08-02-2000, 04:35 PM
J143555
Guest
 
Posts: n/a
Post

I recently married. My husband was divorced. His divorce agreement states that he and his ex-wife are joint tenants in common of the home they bought while married. She lived in that home for approximately one year. She has not contributed financially to it. He has asked her to sign a quit claim but she refuses unless he pays her an amount which is greater than the equity he has in the home. Can she, by law, do this? Would he be required to pay her half of what the equity was at the time of the divorce? Is there any easy solution to this? Thank you
  #2  
Old 08-02-2000, 04:51 PM
Senior Member
 
Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Post

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by J143555:
I recently married. My husband was divorced. His divorce agreement states that he and his ex-wife are joint tenants in common of the home they bought while married. She lived in that home for approximately one year. She has not contributed financially to it. He has asked her to sign a quit claim but she refuses unless he pays her an amount which is greater than the equity he has in the home. Can she, by law, do this? Would he be required to pay her half of what the equity was at the time of the divorce? Is there any easy solution to this? Thank you<HR></BLOCKQUOTE>

Does his divorce decree state who is responsible for expenses ie. mortgage payments, real property taxes, insurance etc.? Under the tenants in common ownership, his ex owns half the house and therefore can sell her ownership interest to anyone. She can ask any price for her share but should base her sales price at whatever her equity is using current fair market value of the property.
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 05:09 PM.



IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.

F
reeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.