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Divorce Question #13047498 01/31/19 05:16 AM
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Kerry Dugan Offline OP
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I know this isn’t the correct place to ask this kind of question. But got 2 different answers from lawyers. Real quick, we have decided to do a non contested divorce, and at this present time we are civil. I know that has an option to change when we actually get down to some of it. We hope not, but who knows.
We haven’t actually “hired” lawyers and neither really want to honestly.
Wife did have a lawyer draw up the petition to have notorized and send through the courts. I read it and just wanted to make sure so I consulted a lawyer just to answer a couple questions.
Her lawyer in the consultation told her to actually wait till divorce is final before selling the house
The one I consulted said the opposite, said sell the home before hand
My question is...

Has anyone been through this lately and if so, how did you do it?


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Re: Divorce Question [Re: Kerry Dugan] #13047504 01/31/19 05:47 AM
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Scagnetti Offline
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Divorce is an accounting exercise

In the division of assets, which is detailed in your petition, who gets the house?

No children involved in the divorce I hope


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Re: Divorce Question [Re: Kerry Dugan] #13047510 01/31/19 06:58 AM
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Don't matter how much you make or don't make. She's entitled to half.

Re: Divorce Question [Re: tmd11111] #13047520 01/31/19 08:22 AM
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Originally Posted by tmd11111
Don't matter how much you make or don't make. She's entitled to half.


Not if it's uncontested - in that case the parties just agree to a settlement and the judge signs off on it.

Besides that, it's a lot more complicated than just 1/2 of everything. She isn't entitled to assets he owned before the marriage, or to certain things like inheritances, etc.

I had an uncontested divorce. We went to one lawyer, who drew up all the papers. I was the complainant, so she signed her part of the papers and then that was it for her. I went with the lawyer to court, said "yes" to about 5 questions, the judge said OK and that was it. My ex didn't even have to show up. It was about 3 minutes in court.

In my case the house had no real value because it was about 100% mortgaged (the housing market had just gone down quite a bit), so I got the house. In today's housing market, you could easily sell it before the divorce is final. I think what I would do, to be safe, is one of the following:

1. One of you buy the house from the other - agree on a value and one of you pay to the other 1/2 of the difference between the value and the mortgage. The judge can OK it and order the deed record to be updated as part of the proceedings as long as the lawyers do their part correctly (this is basically what I did but the payment amount ended up being zero so I paid her nothing and the deed was changed to just be in my name).

2. Sell the house and put the proceeds in an escrow bank account, and the day of the divorce close the account and each take 1/2 of the money. Agree that if it doesn't sell before the divorce is finalized, the proceeds will be paid into an escrow bank account to be split evenly once funds clear.

Re: Divorce Question [Re: Canino] #13047523 01/31/19 09:40 AM
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Originally Posted by Canino
Originally Posted by tmd11111
Don't matter how much you make or don't make. She's entitled to half.


Not if it's uncontested - in that case the parties just agree to a settlement and the judge signs off on it.

Besides that, it's a lot more complicated than just 1/2 of everything. She isn't entitled to assets he owned before the marriage, or to certain things like inheritances, etc.

I had an uncontested divorce. We went to one lawyer, who drew up all the papers. I was the complainant, so she signed her part of the papers and then that was it for her. I went with the lawyer to court, said "yes" to about 5 questions, the judge said OK and that was it. My ex didn't even have to show up. It was about 3 minutes in court.

In my case the house had no real value because it was about 100% mortgaged (the housing market had just gone down quite a bit), so I got the house. In today's housing market, you could easily sell it before the divorce is final. I think what I would do, to be safe, is one of the following:

1. One of you buy the house from the other - agree on a value and one of you pay to the other 1/2 of the difference between the value and the mortgage. The judge can OK it and order the deed record to be updated as part of the proceedings as long as the lawyers do their part correctly (this is basically what I did but the payment amount ended up being zero so I paid her nothing and the deed was changed to just be in my name).

2. Sell the house and put the proceeds in an escrow bank account, and the day of the divorce close the account and each take 1/2 of the money. Agree that if it doesn't sell before the divorce is finalized, the proceeds will be paid into an escrow bank account to be split evenly once funds clear.


I know exactly how a divorce works, my last one only cost me a little over $300k
My comment about her being entitled to half was in jest. Just about a sure bet when she realizes she's not going to get what she thought it will turn ugly.

Re: Divorce Question [Re: tmd11111] #13047525 01/31/19 10:45 AM
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Originally Posted by tmd11111
Don't matter how much you make or don't make. She's entitled to half.


Incorrect

Assets acquired before marriage are separate property, like vehicles, houses, etc.

Inheritance in Texas is also separate property

Bank Accounts can be separate If you don't comingle funds or put your partner name on the account

Re: Divorce Question [Re: tmd11111] #13047526 01/31/19 10:45 AM
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Originally Posted by tmd11111
Originally Posted by Canino
Originally Posted by tmd11111
Don't matter how much you make or don't make. She's entitled to half.


Not if it's uncontested - in that case the parties just agree to a settlement and the judge signs off on it.

Besides that, it's a lot more complicated than just 1/2 of everything. She isn't entitled to assets he owned before the marriage, or to certain things like inheritances, etc.

I had an uncontested divorce. We went to one lawyer, who drew up all the papers. I was the complainant, so she signed her part of the papers and then that was it for her. I went with the lawyer to court, said "yes" to about 5 questions, the judge said OK and that was it. My ex didn't even have to show up. It was about 3 minutes in court.

In my case the house had no real value because it was about 100% mortgaged (the housing market had just gone down quite a bit), so I got the house. In today's housing market, you could easily sell it before the divorce is final. I think what I would do, to be safe, is one of the following:

1. One of you buy the house from the other - agree on a value and one of you pay to the other 1/2 of the difference between the value and the mortgage. The judge can OK it and order the deed record to be updated as part of the proceedings as long as the lawyers do their part correctly (this is basically what I did but the payment amount ended up being zero so I paid her nothing and the deed was changed to just be in my name).

2. Sell the house and put the proceeds in an escrow bank account, and the day of the divorce close the account and each take 1/2 of the money. Agree that if it doesn't sell before the divorce is finalized, the proceeds will be paid into an escrow bank account to be split evenly once funds clear.


I know exactly how a divorce works, my last one only cost me a little over $300k
My comment about her being entitled to half was in jest. Just about a sure bet when she realizes she's not going to get what she thought it will turn ugly.


Next Time do a Pre Nup and have her seek separate legal advice

Re: Divorce Question [Re: Scagnetti] #13047527 01/31/19 10:46 AM
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Originally Posted by Scagnetti
Divorce is an accounting exercise

In the division of assets, which is detailed in your petition, who gets the house?



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Re: Divorce Question [Re: RedRanger] #13047541 01/31/19 11:24 AM
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Originally Posted by RedRanger
Originally Posted by tmd11111
Originally Posted by Canino
Originally Posted by tmd11111
Don't matter how much you make or don't make. She's entitled to half.


Not if it's uncontested - in that case the parties just agree to a settlement and the judge signs off on it.

Besides that, it's a lot more complicated than just 1/2 of everything. She isn't entitled to assets he owned before the marriage, or to certain things like inheritances, etc.

I had an uncontested divorce. We went to one lawyer, who drew up all the papers. I was the complainant, so she signed her part of the papers and then that was it for her. I went with the lawyer to court, said "yes" to about 5 questions, the judge said OK and that was it. My ex didn't even have to show up. It was about 3 minutes in court.

In my case the house had no real value because it was about 100% mortgaged (the housing market had just gone down quite a bit), so I got the house. In today's housing market, you could easily sell it before the divorce is final. I think what I would do, to be safe, is one of the following:

1. One of you buy the house from the other - agree on a value and one of you pay to the other 1/2 of the difference between the value and the mortgage. The judge can OK it and order the deed record to be updated as part of the proceedings as long as the lawyers do their part correctly (this is basically what I did but the payment amount ended up being zero so I paid her nothing and the deed was changed to just be in my name).

2. Sell the house and put the proceeds in an escrow bank account, and the day of the divorce close the account and each take 1/2 of the money. Agree that if it doesn't sell before the divorce is finalized, the proceeds will be paid into an escrow bank account to be split evenly once funds clear.


I know exactly how a divorce works, my last one only cost me a little over $300k
My comment about her being entitled to half was in jest. Just about a sure bet when she realizes she's not going to get what she thought it will turn ugly.


Next Time do a Pre Nup and have her seek separate legal advice


Current wife earns more then double what I do. Why sell myself short with a pre-nup

Re: Divorce Question [Re: Kerry Dugan] #13047543 01/31/19 11:28 AM
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I don't know anything about divorce except they can get ugly. So sorry you are having to go through this.


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Re: Divorce Question [Re: Kerry Dugan] #13047549 01/31/19 11:44 AM
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I would follow your attorneys advice and sell the house before the divorce is final if it becomes a cash buy out the one who will keep it will need to get a loan for the mortgage and equity buy out. A big caution is if the original loan is not paid off and she is awarded the house no court order can erase your liability on the mortgage. If it gets past due your credit is impacted and you will be contacted to pay. If you go to get another loan you will have to add the mortgage amount to your liabilities and the monthly payment to your expenses when trying for a new mortgage. It’s true a divorce can be final after 60 days of filing but it can delayed until outstanding issues are resolved. There are mortgage brokers that specialize in these type of loans.

Re: Divorce Question [Re: Scagnetti] #13047570 01/31/19 12:34 PM
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Originally Posted by Scagnetti
Divorce is an accounting exercise

In the division of assets, which is detailed in your petition, who gets the house?

No children involved in the divorce I hope

This is the correct answer.


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Re: Divorce Question [Re: Kerry Dugan] #13047574 01/31/19 12:37 PM
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Here's more information on the subject than you probably want to know. It may help you decide which is better in your situation (both attorneys are 'right', but the answer depends on whose interests they're looking out for).

https://texaslawhelp.org/article/divorce-real-estate

Without knowing anything more than what you said, I find it is easier to divide up money in an escrow or bank account than it is to divide a piece of real property.

Last edited by Uncle Zeek; 01/31/19 12:41 PM.

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Re: Divorce Question [Re: Kerry Dugan] #13047576 01/31/19 12:39 PM
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Burn the house down.


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Re: Divorce Question [Re: RATZ] #13047589 01/31/19 01:08 PM
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Originally Posted by RATZ
I don't know anything about divorce except they can get ugly. So sorry you are having to go through this.


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