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Hers or ours....

Discussion in 'Joint Ownership' started by Kingfish007, Dec 24, 2014.

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  1. Kingfish007

    Kingfish007 Law Topic Starter New Member

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    My wife had mortgage on the house before we were married 20 yrs ago, but after 3 refinances and me helping pay for it for the past 20 yrs, Is the house only "hers" or "ours"?
     
  2. army judge

    army judge Super Moderator

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    It was exclusively hers.
    I suspect that the commingling of assets and those refis have given you some interest in the home.
    But, that must ultimately be decided by a judge, when you seek a divorce, unless she has voluntarily added your name to the deed.
     
  3. disagreeable

    disagreeable Well-Known Member

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    How is the deed titled? That to some extent is the ultimate question.
     
  4. Kingfish007

    Kingfish007 Law Topic Starter New Member

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    My name is NOT on the mortgage or the deed. She want to let the house go into foreclosure and I am unable to convince her otherwise. I am also unable to talk to the mortgage company concerning saving the house. Her ship is sinking and I am the only one bailing water. Should I bother bailing water or just bail on the house?
     
  5. army judge

    army judge Super Moderator

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    If you're not standing on the bow of her sinking ship, you'll be okay.
    You won't even get wet!!!
    You get on that ship and salvage it, there's nothing in it for you but the warm glow of knowing you did a good deed.
    No pun intended, as you aren't on the deed, this won't affect you.
    Maybe you might consider buying your own home and that way Miss Financially Irresponsible won't get her silly paws on it and sink it like she did hers.
    You could choose to allow her to reside with you, if you choose to do so, and she needs a place to dry off.
    Never throw GOOD away money chasing or salvaging LOST money.
     
    Last edited: Dec 25, 2014
  6. disagreeable

    disagreeable Well-Known Member

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    Sounds like you need to be swimming away from her if you are not on the same page anymore.
     
  7. Kingfish007

    Kingfish007 Law Topic Starter New Member

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    Our next door neighbor recently went into foreclosure. A disabled veteran that went through divorce and could no longer afford the house. BUT instead of taking the house, the bank GAVE IT TO HIM. My wife thinks her mortgage company is going to do the same. Both of the houses are over 60 yrs old and in a flood zone.
    Well, as it turns out, the same next door neighbor has offered to sell ME his house for pennies on the dollar, seeing how it was GIVEN to him. I intend to buy it in MY name, however, in FLORIDA I think she has to be on the deed or the mortgage because we are married.....ironic isn't is?
     
  8. Betty3

    Betty3 Super Moderator

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    Here are a couple of links that include information on Fl. for informational/educational purposes - not giving legal advice. You might want to talk to a real estate attorney.

    http://www.avvo.com/legal-answers/when-buying-a-house-in-florida-does-my-spouse-need-1475336.html

    http://www.realtor.com/advice/if-i-am-married-does-my-wife-have-to-be-on-the-deed/
     
  9. army judge

    army judge Super Moderator

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    I've been told that a trusted relative or friend could BUY the home in her or his or their name.
    Upon securing a proper deed to the property the owner(s) could deed you a life estate with the remainder to revert to any named remainderman or remaindermen.

    Exclusive use and control isn't ownership.

    Execute that properly, she'll never see a day in that home or receive so much as a nickel in profits from its sale.
    I love to use the terms remainderman or remaindermen.
    It validates that A I earned in property law ever so many decades ago. LOL
     
    Last edited: Dec 25, 2014
  10. Kingfish007

    Kingfish007 Law Topic Starter New Member

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    Update: My seller has his own issues. During his recent divorce, the wife had "given up all rights" to the property while the house was mid-foreclosure. They were losing the house and she did not want to be responsible for any debt left on the note. HOWEVER, a year after the divorce is finalized, the husband/seller gets a letter from the bank that simply gives him the house. Just gave it to him.
    NOW, the wife finds out that he is no longer losing the house and in fact $elling it! $he wants a piece of the pie and refuses to sign the deed of the property so he can get a clear title to sell to me. He is now taking proper steps to rectify this, but it is prolonging my exit from my current situation. Any way he can speed this up a bit?
     
  11. army judge

    army judge Super Moderator

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    If you don't own the house, or are buying it legitimately, consider just walking away.
    You really need legal advice.
    You are doing yourself a disservice by trying to avoid paying for the help you require.
    I hope you don't take my comment as a criticism.
    I mean that you unfortunately have many troubling events colliding all at once.

    The issue with your home purchase could be bigger than you imagine.
    That's why I suggest you seek legal advice from nearby attorneys.
    You can consult attorneys in most cases for free during the initial consultation.
    You get about 30 minutes to ask questions about your issues, the law, and how you could proceed.
    I seriously suggest you try that approach a few times, consider the information you received, then take a week or two to evaluate things, then proceed.
    I do wish you well.
     
  12. Kingfish007

    Kingfish007 Law Topic Starter New Member

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    It is inevitable that I consult with an attorney. I just post here to get some advice and third party perspective to enlighten and entertain my pretrial intentions. Thank you for your quick response AJ.
     
  13. army judge

    army judge Super Moderator

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    No worries, I just don't want you to make things worse by acting on information far too important to you to mess up.
     

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