Posted by jd_tx on May 03, 2001 at 04:24:00:
I still lean more toward the headshot idea!! With the proliferation of lawyers we have now, there really ought to be a bounty on 'em anyway. We might justify exempting Bronchick and Hyre, however. Wellll, and you to Dane!
Divorce Decree and Real Property … Long - Posted by JD_TX
Posted by JD_TX on April 30, 2001 at 23:41:30:
Any input, experience, etc., would be very much appreciated.
A little background. Have known a very nice lady for many years. Very naive about business and very unassertive. About 1 yr ago she divorced from an approximate 30 yr marriage. Husband had built custom homes for awhile and then got into rentals and some commercial RE. Shortly before the divorce and moving out of state to marry his internet sweetheart, he had his wife put properties into LLC and take them in her name. She actually qualified and assumed these properties. He then filed BK and divorced her. He got the property in divorce settlement.
She wants/needs to get this out of her name but, he will not or cannot qualify. The bank doesn’t care what the divorce court said, of course, she signed their note. Ex husband wants the deed but not the mortgage. What ramifications could she incur should she put the ball in his court with, “get them out of my name NOW or I will have a fire sale”? (Maybe to me.) I understand that the property is hers to do with as she wants(unless the divorce decree clouds the title?). What bearing does the divorce decree have, is the MAIN concern. If title is not clouded and she sells, would the probability be high for divorce court to come after her, if Ex pushes it?? Or could they have a sympathetic ear? What creative alternatives exist for her? I think her divorce attorney let her down by not stipulating, somehow, that Ex must take note to get deed.
Thanks for wading through this! … JD
Re: Divorce Decree and Real Property … Long - Posted by Nate(DC)
Posted by Nate(DC) on May 01, 2001 at 16:26:29:
Well, there really is only one question here. And you said it yourself. “What bearing does the divorce decree have?”
Unfortunately, since you’re familiar with the case and we aren’t, you’re in the best position to answer that question. If you’re not sure, talk to her attorney or another divorce attorney locally.
Good luck,
NHT
Wading through - Posted by Bud Branstetter
Posted by Bud Branstetter on May 01, 2001 at 11:16:17:
In one place you say “He got the property in divorce settlement.” Then you say “I understand that the property is hers to do with as she wants…”
Who is on title? The LLC, the husband, the wife? Who signed the mortgage besides her? Who has possession and is getting the income?
Many divorce decrease say who gets possession of the house but do not relieve the other party of the obligation on the mortgage. Some of that is poor procedure by the attorney. Many times the decree affecting title is not even filed in the real property records.
If she has the income and is on the mortgage but he has the title she can’t sell to anyone because she doen’t own anything. She may have to go back to court and partition the property. Let’s us know who owns what?
Re: Divorce Decree and Real Property … Long - Posted by jd_tx
Posted by jd_tx on May 01, 2001 at 23:11:54:
Nate, appreciate your response. Had another talk with the lady and the situation is quite different than I had originally believed. See my post to Bud, below.
Re: Wading through - Posted by jd_tx
Posted by jd_tx on May 01, 2001 at 23:07:05:
Bud, Thank you for the reply. I have talked with the lady again, more in depth, and the situation is quite different now, it appears. She had very poor counsel. The LLC’s that the properties were in have deeded, by warranty deed, the properties to the EX. He has title and she has all liability for the mortgages. This was allowed/done by her legal representation! What a rip off. Her attorney deserves nothing less than to be headshot.
That’s my opinion.
Re: Divorce Decree and Real Property … Long - Posted by Nate(DC)
Posted by Nate(DC) on May 02, 2001 at 11:02:16:
Yikes. So the ex HAS title to the properties, but is not obligated on the notes?
If I were this woman I would be suing my former attorney for malpractice.
NHT