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another quit claim deed question

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willow38

Junior Member
What is the name of your state?IL

5 years ago, my brother and his wife were going to get divorced. They had a house worth about 130,000 with about 30K in equity. He gave her a check for 15K and she signed a quit claim deed and cashed the check. They never divorced, but lived apart. He gutted the house and spent the next five years remodeling it. He paid for all materials himself, she never spent a penny. The house will be worth about 300K when it's done, but it's still under construction (no bathrooms, carpet, etc - he's still trimming it out) and thus isn't in a saleable condition. When he refinanced last, it was appraised at 170K. How will the value of the house be determined for purposes of this divorce? In other words, what will she be entitled to?
 


JETX

Senior Member
willow38 said:
How will the value of the house be determined for purposes of this divorce? In other words, what will she be entitled to?
No one can answer as that is an issue that will have to be negotiated. She can certainly claim that she has an equity interest, at least up until the time that she surrendered ownership (by quit claim). He can claim that she got that when she cashed the $15k check. It will be up to the court to determine which, or whatever other possible options, it decides.
 

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