Real Estate Law
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Thanks. My husband has presented an appraisal on his buildings (appraisal was obtained about one year ago) and is saying that the resale value of his properties is less than the loan amount that he has on them, and so has NO equity in those buildings and so I will not get anything.
It is already proven that marital funds were used to put the down payment for those properties. These properties are owned by his business which is 100 percent owned by him. Are they considered marital properties although owned by his corporation?
His attorney had hired an appraiser last year and wants to present him as a testifying witness in the court. His appraisals are clearly much lower than is even expected in this economy. He will make some adjustments for making them current but they were already very low even for last year. I want to get my own appraisals done before any decision is made. Do judges accept that kind of request because that means that I need about 2 more weeks. My husband's attorney seems to be rushing the judge to make the final decision, just based on her own appraisals. She is saying that there is no equity in those properties and so he cannot give me anything, because he does not have any CASH available plus there is no equity. She is going to further prove by bringing the appraiser in. I do not understand this. I feel this is a completely unfair division of assets. I helped build his practice for 8 years and worked very hard to make it successful while getting minimal compensation. He used to tell me that its family business and we both own the money, but he was putting huge sums of money away overseas and bought properties there too. And then while we were still married, he bought these two properties in 2007 and 2010. I do not want to come under pressure and just "settle" not getting anything. To me, it is not settling, it is surrendering. Can you advise how to approach this problem? Thanks.
That is correct. Just to obtain discovery, we had to file three contempts of court against him and still he did not comply fully. My attorney has worked very hard and long on this case. He has proved that my husband has withdrawn a lot of cash from the business accounts over the last 5 years, has committed tax frauds, makes a lot more money than me, he even brought two police officers to the court to testify domestic violence against me that had happened few years ago and that he has lied several times while replying to the interrogatories under oath.
Can I ask for a lump sum amount ( like 300,000 dollars) or as you are stating one of the commercial properties directly? Thanks.
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