Anonymous asked in Business & FinancePersonal Finance · 4 weeks ago

Divorce Questions - Outcome?

I have made alot of mistakes but I want to know from your experience what you see happening in my case.

* Husband has never worked

* I have worked in managing vacation rentals for 12 years.

* Since I am self employed, I asked the company to put 20k to his name so he could be approved for the vacation rental mortgage with me 

* He got a $50k settlement, he spent a good amount, put the rest in savings.

* We purchased the home with the savings I had from working and the settlement he got.

* I purchased a home before I met him, sold it to cover the cost of remodeling the vacation rental ($130K)

* We purchased another vacation rental using the money saved from my job and the rents from the first vacation rental

*City gave us problems, we end up spending over $250k and the remodel took over 1 year to complete

*He laid the floor and finished 3 bathrooms within the rental

* His father gave me a $50,000 loan since I couldnt make ends meet

* We finally finish the home, starts renting and paying all the bills but we are still in about $200k worth of debt which I can easily pay but havent due to the pending divorce

* I find him on tinder and dating websites so I want to get a divorc

He wants me to give him 50% of the rental income forever so he doesnt have to work. He also has a pending VA disability case since he says its free money. Do I have any chance of keeping this properties just to myself? I have offered to buy him out and he refuses since he wants the residual income forever.

3 Answers

  • 4 weeks ago

    If the home was purchased during the marriage, he owns half of it.  It makes no difference that you put in most or all of the money.  You were satisfied with him sitting home on his *ss.  Why should divorce change that?  You will probably owe him alimony and maintenance and he will be required to get a job.  How much & how long and the details vary a LOT depending on the state.  You can ask the court to order the house sold and the proceeds split but, if it is under water, then the only thing that will be split will be the debt and, possibly, it will be your debt.  Don't try to do this divorce yourself.  There's no quickie in what you described.  Some states are favorable to the man, some the woman and you didn't mention kids.  A lawyer has a lot to look at.

    Source(s): Certified Paralegal, with 25+ years' experience.
  • 4 weeks ago

    Budget for a divorce lawyer.  Your first meeting won't cost much if anything.  Any advice here will not get you far.  While you laid out a lot, there are still too many questions to ask and answer.  

    What can happen depends on the laws of your state, whether you have a corporation set up, and whose name everything is in.  You don't have to pay him the rental income if that's not how you want it set up.  (I would never do that.)  It means he's benefiting from your hard work going forward still which isn't happening unless he convinces a judge he is deserving of alimony.  

    Again, consult a lawyer.

  • Anonymous
    4 weeks ago

    A divorce lawyer can answer this question😉

    Go see one.

Still have questions? Get your answers by asking now.