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Thread: Assets question

  1. #1
    woody is offline Junior Member
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    Default Assets question

    Hello, I am currently considering divorce and I have a few questions that i will make separate post so that I do not overdo it.

    My question - I have 3 properties, personal residence (current value $270k and 2 rentals (current value $200k and 70K).....all paid for. One of the rentals is the house next door which my mother-in-law rents. The problem is that even though I paid for the house and have proof.... I (like an IDIOT) allowed it to be titled in just my wife and mother-in-laws name. My wife has not worked in 9 years and my other rental is my mother-in-laws condo that I purchased and paid off before she lost it to foreclosure. Will I have any right to that house or am I the HUGE IDIOT I think I am and will only have rights to the Condo and personal residence. My personal residence currently has a Home Equity line of Credit of 200k that I used to pay off the balance of the other homes.

    I just have this feeling that I am going to have no place to live and all the debit based on my IRA's and lack of rights to an asset I paid for.

    Thank you for your help and this forum......I will apologize now for the tons of questions that will come after this post.

  2. #2
    Attorney Howard Iken's Avatar
    Attorney Howard Iken is offline Administrator
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    If you trace the money, you may be able to establish your marital interest. You probably need to retain a forensic cpa to do this. There still is hope.
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