tax incentive check

wichitafalls1 said:

What is the name of your state? tx
can i legally keep that check, i told my ex i was keeping it to do repairs on our house. he moved out during a remodel, leaving me and our kids with no working heat or a/c, no sinks in the bathrooms, one working toilet and a half working shower. we have no carpet in 3 rooms. he asked if he was getting any of it or what i was going to do with it, i told him i was keeping it and finishing the house. he wants to sell the house so he was okay with that, but i am asking for the house in the divorce. so can i legally keep it? they are to come in one lump sum and either person can sign it to cash or deposit it. my lawyer said it was fine, but he is also looking out for me and the kids, but i just don't want to get into trouble or am worried about my ex blowing up.

Click to expand...

wichitafalls1 said:

thank you very much.

Click to expand...

Bali Hai said:

You can keep it FOR NOW. You will ante up for half of it later.

Click to expand...

wichitafalls1 said:

yes now he has found out how much his friends got back he is wanting to know if we have gotten yet. which we will not get it till june, because the bank account we had our tax refund direct deposited into was closed, so i will just not cash it and let the judge tell us what to do with. because we both worked and have two kids, so its not just his income that counted on it or projected for 2008. but thank you.

Click to expand...

LdiJ said:

You really could cash it and spend it on getting more completed on the house. That's a joint asset and you are going to have to refinance and give him his share of the equity if you keep the house, so its a valid way to spend marital property....and probably a very smart way to spend it.

Click to expand...

Ohiogal said:

Actually no she cannot. IF it is coming in check form and they filed together then it will be made out to BOTH OF THEM. And she will not be able to cash it without him endorsing it.

Click to expand...

LdiJ said:

You really could cash it and spend it on getting more completed on the house. That's a joint asset and you are going to have to refinance and give him his share of the equity if you keep the house, so its a valid way to spend marital property....and probably a very smart way to spend it.

Click to expand...

wichitafalls1 said:

i am just going to hold on to it, we will not get it until we go in for finals anyway. but you said something about refiancing the house and giving him equity, will they let us trade other assets for that. our house appraised at 84,000 by the county, we owe 73,000 so that is like 11,000 divided by 2 which is 5500. he has this corvette he wants to keep its anywhere from 9000-14000. can you trade assets like that? i was told if i keep the house i only have to give him the equity of the house now, not future equity? if so he can keep his car and be done with me and i wouldn't be the bad guy who made him sell his most treasured item.

Click to expand...