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Question about private loan - forcing SIL out of house

Discussion in 'Adverse Possession' started by Bobbee47, Dec 17, 2015.

  1. adjusterjack

    adjusterjack Super Moderator

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    No, they don't both own the home. The home is the wife's sole and separate property and always will be unless she adds her husband's name to the deed.

    The husband has a community property interest in the home under appropriate circumstances. That is not the same as ownership.

    A community property interest can be satisfied in a variety of ways during divorce without having any affect on the wife's ownership of the home.

    I got divorced in Arizona (also a community property state) and educated myself quite thoroughly on the subject.
     
  2. army judge

    army judge Super Moderator

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    Good for you.

    I'm sure you believe that which you choose to believe.

    If property is acquired by one spouse during the marriage, the other spouse owns half of the interest the other acquired.

    Truth is, until the mortgage has been paid in full, the lender owns the home.

    If any equity exists, both spouses have a 50% stake in it.

    If one spouse defaults on the loan, watch where the lender goes to seek satisfaction.
     
  3. adjusterjack

    adjusterjack Super Moderator

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    That's right. That's what I said and you've just confirmed my comment. The other spouse owns half of the INTEREST the other acquired but has no OWNERSHIP of the property itself.

    With all due respect, perhaps you have a divorce attorney friend who can explain that distinction to you if you aren't accepting it from me.
     
  4. army judge

    army judge Super Moderator

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    I'll hop right on that, because I care a great deal.
     
  5. ElleMD

    ElleMD Well-Known Member

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    Even if they both own the home, the tenancy is separate from the loan to the sister. That was the point I was trying to get across.
     
  6. adjusterjack

    adjusterjack Super Moderator

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    There are still some things that aren't clear but the OP hasn't been here since Thursday night so I guess it's a dead issue.
     

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