House in father's name


#1

Hi again -

I would contact an attorney on this issue but here is my opinion on where I believe you stand:

Being that your father is still alive it is doubtful that she has a case. There may be a letter but it states that it was his intention for the house to be conveyed upon to you upon his death. After he dies is the key point.

Did your father ever legally deed the house to you? Who’s name is on the deed? Did the letter specify that the house would go to you or that the house would go to you and your wife? If this was going to be a gift or an inheritence from your father and he had followed through on doing so legally it will make a difference if he gave it to solely you or you and your wife. Look at the home page of www.rosen.com and go to the divorce library and look up the different types of property in the section on splitting assets.

Also if he legally gave it to you have you ever invested marital funds into the house, i.e. a second mortgage?

Where you and your wife paying rent or a mortgage or did you live for free? When you pay rent or live for free you do not build equity in a property.

Best of luck again
MP


#2

Dear gladheisgone:

Greetings. Anyone can change their will and his intention would not mean anything without a will. So, even if the house is going to you in the will, it is not currently yours. Also, it does not sound to me like it is yours under any kind of constructive trust theory at this time. I would tell them no way. Thank you.

Janet L. Fritts
Attorney with Rosen Law Firm

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

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

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.


#3

In 1998, my father put in a letter that the house he built and we were living, that it was his intention for us to have that house after his death. If we wanted to move before that time he wished to reinvest the money again to avoid the 1031 taxes on the exchange, this is why he did it the first time as the proceeds were from the sale of his office that was considered a rental property. My ex and her PITA attorney are now saying that it was our house as my father gave it to me and that any equity in it should be split. It is my understanding that in real estate that in order for anything to happen there has to be a signed agreement and that his intention actually means nothing. Is this true and if not, would it not make sense that any equity in the house would first go back to my father to repay his inital investment. This is one of the final pieces I need to understand to get this person out of my life as best I can. We have two children so we will always have a connection there, but her cheating, lying and non stop grab for the cash is getting old. She had the affair not me !!