When calculating equity on a home, the amount owed on the
When calculating equity on a home, the amount owed on the mortgage and the appraised value are usedBut if one has acquired additional debt to make substantial renovations in the home by using credit cards, a home equity line from another property and a bank loan, are any of those subtracted from equity value ?Or are those debts and the interest charged separate from equity value?Thanks
If a person going through divorce and carried the mortgage
If a person going through divorce and carried the mortgage and had the most stability for the home and kids. How does this affect property / assets in TN? I found this regarding Tn laws within division of property below:"The contribution each spouse has made to the acquisition, preservation, appreciation, or dissipation of the marital or separate property, including the contribution of a spouse to the marriage as homemaker, wage earner, or parent, with the contribution of a homemaker and wage earner to be given the same weight if each spouse has fulfilled his or her role"
I rented a house from my brother for 4 years. There was no
I rented a house from my brother for 4 years. There was no contract or lease, just a verbal agreement. No security deposit either. He has since sent me a letter stating that he is returning the deposit ($0) and will need reimbursed an additional $1900 for repairs he made in order to sell the house. Is this legal when no deposit or lease agreement was ever involved?
My wife abandoned our home and moved away 3 years ago,
My wife abandoned our home and moved away 3 years ago, leaving me with full responsibility for up keep, insurance taxes, etc. Now she wants to sell and get half the proceeds. Is she entitled to half since she left and moved away? We are in Georgia
Buying a house and closing in 2 days. Due to my wife's
Buying a house and closing in 2 days. Due to my wife's research position at a university being funded through multiple grants etc. they are struggling to prove her income for closing purposes. Lender has suggested I could be the lone debtor on the loan and my wife would still be on the title. It sounds to me like the house would be half hers, but the loan/debt/risk would be all mine. What kind of trouble could this cause for me? What liabilities/risks am I taking? Is there any risk to her?
I have somewhat of a unique situation, I'm sure you love
Hi there:I have somewhat of a unique situation, I'm sure you love hearing that lol. I have lived in the same house for 50 years (my childhood home), my husband has lived there for 25 years. My mother and father are on title and they added both my husband and I to title approximately 8 years ago prior to my mother's hip replacement for beneficiary reasons (basically that if my mother didn't survive the surgery my father wouldn't be able to lose the house due to his mismanagement of money). My father passed away about a year after that and my mother passed away on January 28th of this year. So all four of us are still on title but my parents are on the mortgage loan that I have been paying since February. I am in the process of pursuing a divorce after 24 years of marriage due to his alcoholism.I was told that he is only entitled to 1/4 of the equity earned from the time he was put on title until the date I file for divorce (or separation date, I forget which so if you could let me know that would be great) and need to obtain a historical appraisal to find out that amount of equity. Is this accurate? Would I just state this in the divorce decree and then have to pay him off within a certain time period?Also, I had two brothers, one passed away on April 27th of this year and the other one I cut ties with due to his abuse on April 28th of this year. Is my living brother entitled to any part of my home (even though he isn't on title) through inheritance? If so, what would he be entitled to? Half of my parent's half? Is there anything I can do to protect myself if this is the case?Thank you in advance for any guidance you can provide, I truly appreciate it. To say that my life is hell right now doesn't begin to cover it.Thank you again,Paula D.
My husband and I have been trying to purchase a house in
My husband and I have been trying to purchase a house in Haines, Alaska since January 7, 2016. It is a FSBO and we hired a buyers agent. The seller has given us a very difficult time, including refusing to work with our agent after a couple of months because she required that he sign paper work on time! Closing was supposed to happen last week. At the last minute, the owner's former girlfriend hired an attorney and a lis pendens was started which put a cloud on the title. Although Alaska is not a community property state, does not recognize common law relationships, nor was the girlfriend on the mortgage or deed, there is a 10 year old child and child support issues. The plaintiff agrees to let the sale go through only if 1) the proceeds are split 50-50 OR 2) the proceeds are all held by the court until the division of property issue is settled. The seller is only willing to put 50% of the proceeds to be held by the court. The over $10k we have invested so far is at stake, not to mention that my Husband really wants the property. We are willing to wait, but concerned about our rights. The mortgage and title companies have been helpful, but there is only so much they can do.Can I hire the girlfriend's lawyer to represent us? Should I find a different lawyer? Do we have any rights? We live in Washington state and are trying to move back to Haines, AK.
In the division of property in a divorce contract, and the
In the division of property in a divorce contract, and the wife and I agree that she does not want any part of the house, or money and that I am to take over the payments (as I have been doing), is their any need to do a refinance?