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    massey2244's Avatar
    massey2244 Posts: 1, Reputation: 1
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    #1

    Sep 14, 2008, 01:20 PM
    Minority worth in realestate
    My wife and I along with my daughter and her husband purchased a campground my wife and I made the down payment,my daughter and son in law made no investment at that time, the agreement was it would be for my retirement and their future, my daughter and son in law are dicvorcing and now how to get his name off the deed and what if any is his worth in the property?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Sep 14, 2008, 02:17 PM
    Quote Originally Posted by massey2244
    My wife and I along with my daughter and her husband purchased a campground my wife and I made the down payment,my daughter and son in law made no investment at that time, the agreement was it would be for my retirement and their future, my daughter and son in law are dicvorcing and now how to get his name off the deed and what if any is his worth in the property?

    The Court will determine the value and ownership of both his and her share. Now that the divorce is underway they cannot dispose of any property. The Court will probably order a buy out of his share and will arrange for a new Deed if he is bought out.

    Or he may just hold his share - like a thorn in your side - as long as it suits his purpose.

    If he's on the Deed he owns a percentage of the property. It sounds like 4 people are titled owners; he owns 1/4 of the value of the property. If 2 people are on the Deed, then he owns 1/2.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Sep 14, 2008, 04:15 PM
    The court will determine what buy out of this is, if any.
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