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Samuel II
Samuel II, Attorney at Law
Category: Family Law
Satisfied Customers: 27009
Experience:  General practice of law with emphasis in family law.
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My wife and I are on the rocks right now. I would like to go

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My wife and I are on the rocks right now. I would like to go to counseling and all that for awhile, but if worst comes to worst we will have to draw up agreement. We own a house with a $416K note on it. The house across the street sold for $460K about 6 mos. ago. We have no children together. We owe my father $103K, and I had her sign a note to me for $47K for money put into the house originally, her car, etc. It was signed after we were married. Am I entitled to the full $47K? I also paid $2,800 for part of her massage school tuition. Would my father have to sue for her portion of the $103K? Would it make sense if possible to rent out the house until property values improve before selling it?
Submitted: 5 years ago.
Category: Family Law
Expert:  Samuel II replied 5 years ago.

Hi

 

Her name is XXXXX XXXXX house?

Customer: replied 5 years ago.
yes
Expert:  Samuel II replied 5 years ago.

Hi

 

Then your promissory note for the 47,000 will be arguable if she chooses to dispute it. She is your wife and her name is XXXXX XXXXX house. She owes you no more than you owe her.

 

Your Father should get her share of his money, as long as there was an agreement to that effect. Hopefully, she will not oppose that. If she does, of course, then he will need to file a lawsuit.

 

As to renting instead of selling. You have a lot to consider. First of all, when will the market ever recover. Some experts are saying it will never be the same. Some give it 10 to 20 years.

 

So, if you can get over your purchase price, you might consider the sale as opposed to renting and having to deal with all of your tenants problems. Also, would be able to get rent for the amount to cover your mortgage in these economic times.

 

 

 

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