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RealEstateAnswer
RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 26357
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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I live in Michigan, my wife left me 4 months ago, sticking

Customer Question

I live in Michigan, my wife left me 4 months ago, sticking me with an old run down house and all the bills. She took half the money in our bank account and went to live with her brother. The house we are purchasing on a land contract is not worth what we owe. If she leaves, am I just stuck with the house even though her name is ***** ***** papers as well?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  RealEstateAnswer replied 1 year ago.
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.
Good morning. I certainly understand the situation and your concern. No, you would not be stuck with the home, just because she left. Since her name is ***** ***** title/note as well, she is just as liable. If she left and has no intent to return and you do not think you can reconcile, then you may want to consider filing for divorce. When you do and during the proceeding, you and her would need to decide the martial assets, as well as the debts and decide who gets what and who will pay what. If you can not, then the Judge will have the final say. Moreover, if you she money for your shared bank account, she will likely be accountable and need to give back half, since you have a shared interest in it and she took it in bad faith. If neither of you want the home, then it would need to be sold via short sale or see if the lender would take it back, to get out from under it.
Customer: replied 1 year ago.
If I wanted to stay in the house, would she be liable for the difference in what we owe on the house versus what it is worth? She has already filed for divorce and up until a few weeks ago, things had been pleasant and there was talk of reconciliation, but no more. She is gone and not coming back, I would like to stay in the house as we have a 16 year old that will be staying with me the majority of the time. We had a windfall just before the split from my company selling and me cashing out an ESOP distribution. WE had earmarked a good portion of that money for repairs on the house but she took half and left.
Expert:  RealEstateAnswer replied 1 year ago.
If you are awarded the home, it may be on the condition that you continue to pay the mortgage on your own. It is unlikely that she would need to owe/pay you 1/2 of what it is worth, since she would be giving up her interest in something that has lost or is losing value, so to get out of having to contribute to the mortgage, she may need to transfer title to you. As I shared as well, any money which she took, which you have a right to, would need to be repaid.
Expert:  RealEstateAnswer replied 1 year ago.
I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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