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Can you explain a little more detail about the lease-purchase?
2. If you file joint taxes with your wife,
and file as head of household, she will be entitled to any refund...because it is a joint tax return.
Any refund will be made into joint names (if by check).
If you have it directly deposited, it won't change the nature that it is marital.
The only other option is if she agrees in a contract that she is waiving any refund.
I did not file as married but as seperated
The lease purchase is that Someone else has the mortgage and I am paying his mortgage payments but everything is in his name. I have legal papers stating that efter the loan is paid off he will sign over the property to me.
If you file a separate income tax return, she isn't entitled to any of it.
I think she has a good argument that to the extent there is a reduction in principal for the loan, those payments were marital.
Let me give you an example:
let's say out of every payment made (totaling $1500), $200 goes to reduce the principal amount of the loan
and $1200 is interest...
she'd have an argument for $200 (the reduction of the principal amount of the loan) is marital and she'd get 1/2 of that (so $100, in this example) would be marital every month.
Even if she paid no bills in the household and held a job?
That won't matter...
that is not the standard in law.
(Otherwise stay at home moms would get nothing and working fathers would walk away with everything).
That is why the court looks at
monetary (your) contributions and non-monetary (probably hers) contributions during the marriage.
The issue she has is this:
she will have to PROVE that this is not just a lease.
A lease has no interest in it -
If we lived in an apartment (which is basically the same thing at this point) and I did not pay my rent I would get evicted just as I would in this property.
so the real issue will be what the exact terms of the lease (to own) says.
What does it say if you quit paying - do you get nothing?
What does it say if you pay almost all and then die?
yes I get nothing.
I think she has an argument if she is smart enough to creatively come up with it.
That argument is this:
I get nothing if any payment is missed for more than 2 months straight
When someone is in the military, they have to serve 20 years
before they get any retirement.
So if they are married for 3 years and then serve 10 more and get out of the military the wife gets nothing.
BUT under the law,
if they are married 3 years,
and the other guy (husband) serves in the military 20 years total and retires,
wife DOES get a portion of his retirement.
It is what we call an 'incohate" assets.
meaning it is not complete right now...
so if she is creative enough, the argument is IF and when you ever get equity in that house,
she should be entitled to a part of it...
ok so she will have to prove it is not a lease, then she will have to prove how much was interest and how much was principle before she gets anything?
That is part of it - but we know she can't prove it isn't a lease...
she only gets half of the principle correct?
she will have to create an argument that IF
She will have to prove that if you ever get any equity in this property,
she should be entitled to 1/2 the reduction of the principal payments of the loan from the marital period.
does any improvements made to a leased property count towards that?
the improvements need to actually INCREASE the value of the home.
So if it is maintenance - fixing something that is broken, then that doesn't.
But adding a porch/deck, that does.
it is a trailer and it was a stove,dishwasher, TV, Dryer, shed, and a patio.
was there a stove beforehand?
was there a dishwasher beforehand?
was there a dryer beforehand?
yes to all of the aplliances
Then no - if they existed before it didn't improve the property
they were broke so had to be replaced
the shed and patio perhaps.
(Broken, replaced appliances doesn't improve a property's value.
she also purchased a vehicle that I should be entitled to half of the value. She also took a 1800 lawnmower that was brand new and a 2000 BBQ pit that was brand new. Can I get half of their value?
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