Do I Still Owe my Ex a Percentage of our Home if I Foreclosed after the Divorce and then Bought it Back on my Own?
|
Summary
When I was married with my ex-husband we bought a house together, then later 7 years later we divorced and I was granted the house. It says in the decree that he was to get $11,500 plus 9% annum interest until I sold the house or I lost custody of the kids or they turned 18. Soon after the divorce I lost the house in a foreclosure with the bank, the house was taken from me and taken to the courthouse to sell. I was able to buy the house in full with my parent’s money at the auction’s asking price. Now I am selling the house and the house in under my name for the past 9 years and wants his part of the money that was stated in the decree. Does he have a case with this? |
“When I was married with my ex-husband we bought a house together, then later 7 years later we divorced and I was granted the house. It says in the decree that he was to get $11,500 plus 9% annum interest until I sold the house or I lost custody of the kids or they turned 18. Soon after the divorce I lost the house in a foreclosure with the bank, the house was taken from me and taken to the courthouse to sell. I was able to buy the house in full with my parent’s money at the auction’s asking price. Now I am selling the house and the house in under my name for the past 9 years and wants his part of the money that was stated in the decree. Does he have a case with this? The house hasn’t been his for the past 9 years it has been under my name and is owned by me.”
You owe him $11,500 plus 9% interest per year when either the kids turn 18 or you lose custody of them. Had you simply sold the house at foreclosure sale, your ex- would have been able to exercise his lien against the property before you got any proceeds.
|
Get notified whenever ANY new article is posted to DearEsq!:
*We NEVER share your email address with anybody! |
I Gave a Friend a Loan and he Used Equity on his Home as Collateral, Now that the Property is Foreclosed What Should I do?
Property Rights When Unmarried
What to do When First and Second Mortgages Foreclose
For more on this subject check out these categories: Family Law, Divorce, Property
Michael Durgavich is an accomplished attorney and mediator. Maintaining a general practice in the San Jose, California area, Mr. Durgavich specializes in family law, bankruptcy, and alternative dispute resolution. Mr. Durgavich can be reached through his website at http://www.MichaelDurgavich.com. Contact This Author
State laws vary, and the above is intended as general advice, and not direct legal advice regarding any one particular situation in any one state. For direct personal legal advice related to your own situation you should consult an attorney familiar with the laws of your state and with your situation.
