I purchased an investment property after we were married and added my wife’s name to the deed, but not the loan, several years later. Now that we are getting divorced, she wants 50 percent of the value.
She has filed an emergency court order to make me sell the property. If her name is not on the loan, can they force me to sell?
I am unable to give you legal advice on divorce. I can give general divorce help for men, though, my knowledge is based on Georgia divorce laws where I am licensed to practice.
It is likely that your wife is entitled to part of the investment property, meaning she probably has some interest in any equity there is in the property.
Based on the information you provided, I am unsure as to how the property was acquired, whether with martial or non-marital funds.
However, because you placed her name on the title, the court, at least in my jurisdiction, will see that as your intent to make the property part of the marital estate.
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In a division of the entire marital estate, the court will include any equity you have in the home as well as any mortgage (debt). The most likely scenario, if we are strictly discussing this property, is that you will be required to complete one of two options:
1) The court may require that you sell the home and divide any and all net proceeds with your wife; or
2) The court may allow you to keep the property but require that you pay a sum certain for your wife’s interest in the property (likely 50 percent).
I believe option two is more likely if you are wanting to keep the property and her name is not on the mortgage.
Remember, I am unable to provide you with anything more than divorce tips for men, so please consult with divorce lawyers for men in your jurisdiction.