Equitable Dist. of Home


#1

Dear Leanna,

I am not aware of any special provisions that would make dividing a Habitat home any different from dividing any other home. You will have to check with the lender to see if they will buy back the home and give you the equity. However, I imagine you can just sell the house, pay off the loan and divide the equity just like any other type of home.

Good luck,

Shonnese D. Stanback
Attorney
The Rosen Law Firm
4101 Lake Boone Trail, Suite 200
Raleigh, North Carolina 27607
919.256.1534 direct voice
919.256.1667 direct fax
919.787.6668 main voice
919.787.6361 main fax
NCdivorce.com
email: sstanback@rosen.com

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#2

Hi;
I need to know, how will a “Habitat for Humanity” home be divided in divorce as equitable dist.? This is a loan, such as buying any home. However, is there any special protections in this kind of loan? Can the home be sold back to the lender and the proceeds split after home is paid off? Thanks for any information.