Home buyout


#1

Dear Mgar9617:

Greetings. Do not do this! Signing a note promising that you will pay your wife these funds does not guarantee that she will not ask for more money later - and she may be entitled to it then. Also, signing the note does not guarantee that she will sign the deed when you need her to.

You need a separation agreement. Thank you.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

10925 David Taylor Drive, Suite 100
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

ROSENDIVORCE.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

I have a similar question about buyout My ex can’t afford the $300K house (estimated) we live in but wants the buy-out clause in the separation paperwork in case we can’t sell the house. He can’t afford to pay me the $20K I want out of the house but that’s not the issue. I am afraid he (and his lawyer) will low-ball me somehow to try and lower the $$ I want. Should I get some appraisals NOW to get an estimate of what the house is worth, or get some comps pulled? Is there anything I can read on your website on guidelines for how to write up buy-out phrases? Any help you can give me is greatly appreciated!


#3

Dear Marlee:

Greetings. You need to have an attorney draft the language to assist you with getting the most you can for the house. Thank you.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

10925 David Taylor Drive, Suite 100
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

ROSENDIVORCE.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.


#4

I want to buyout my ex so I can keep the home. She agreed if I pay her 50K she will sign over the deed to the house, but the problem is that I don