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Child Support Lien - Property Transfer Conundrum
Here's my situation:
I'm currently going through a divorce and live in the house with our two children. Both of our names are on the title, but only his is on the mortgage loan. With my half of his pension plan earnings during the time we were married, the back child support he already owes me, and giving up the right to any alimony, I could successfully "buy out" his half of the house so that I could remain in it with our children, rather than have to sell. We have combined debt of around $70,000 that I would take care of in the refinance process. The problem is, there is currently a $110,000 lien on the house due to his child support arrearages for his son that he has with another woman. So how does the lien get paid off? If he sells me the house for $1 in exchange for what he owes me, I refinance into my name alone, where does the lien go? I don't have to refinance an extra $110,000 do I?? |
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Child Support Lien - Property Transfer Conundrum
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Child Support Lien - Property Transfer Conundrum
wrote in message ups.com... Here's my situation: I'm currently going through a divorce and live in the house with our two children. Both of our names are on the title, but only his is on the mortgage loan. With my half of his pension plan earnings during the time we were married, the back child support he already owes me, and giving up the right to any alimony, I could successfully "buy out" his half of the house so that I could remain in it with our children, rather than have to sell. We have combined debt of around $70,000 that I would take care of in the refinance process. The problem is, there is currently a $110,000 lien on the house due to his child support arrearages for his son that he has with another woman. So how does the lien get paid off? If he sells me the house for $1 in exchange for what he owes me, I refinance into my name alone, where does the lien go? I don't have to refinance an extra $110,000 do I?? A lien will stay on the house until the debt is paid in full, or the lienholder removes the lien (and IMO, from what you've said, the lienholder would be uttlerly retarded to take that lien off) You can't sell a property with a lien on it. If you happen to sucker some knob into buying a home with a lien on it, THEY become the new lucky owners of the mega lien. No lawyer would allow a potential buyer to buy into that, and no potential buyer would be so stupid. So, let's say he sells you his half of the house, and I don't care if it's $1 or $1,000,000. If he sells you the house, the lien becomes yours, not yours and his, not his. You buy the lien with the house. If I were you, I'd get out of that disaster-waiting-to-happen pronto. Liens stay on a property, regardless of who owns it. Trust me, you do NOT want to buy or sell into a lien. |
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Child Support Lien - Property Transfer Conundrum
STOP WORRYING ABOUT MONEY AND ENJOY YOUR CHILDREN.
HONESTLY SOME F===ING STUPID PEOPLE ONLY CARE ABOUT MONEY BUT YOU HAVE THE RIGHT IDEA GET ALL THE CRAP OUT OF THE WAY ASAP AND ENJOY YOUR LIFE & ENJOY YOUR CHILDREN ITS WAY TO SHORT. "'Kate" wrote in message ... On 3 Mar 2007 09:54:35 -0800, wrote: Here's my situation: I'm currently going through a divorce and live in the house with our two children. Both of our names are on the title, but only his is on the mortgage loan. With my half of his pension plan earnings during the time we were married, the back child support he already owes me, and giving up the right to any alimony, I could successfully "buy out" his half of the house so that I could remain in it with our children, DO THIS rather than have to sell. We have combined debt of around $70,000 that I would take care of in the refinance process. The problem is, there is currently a $110,000 lien on the house due to his child support arrearages for his son that he has with another woman. So how does the lien get paid off? If he sells me the house for $1 in exchange for what he owes me, I refinance into my name alone, where does the lien go? I don't have to refinance an extra $110,000 do I?? NO. alt.child-support is a better place to ask your questions. If you ask me, you're in more trouble than you know. This guy doesn't pay child support. You cannot count on him to do the right thing. In short, he will screw you and your kids over for the 110k. Good luck. |
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Child Support Lien - Property Transfer Conundrum
THIS IDIOT KNOWS NOTHING.
"xkatx" wrote in message news:JYiHh.25435$cE3.7673@edtnps89... wrote in message ups.com... Here's my situation: I'm currently going through a divorce and live in the house with our two children. Both of our names are on the title, but only his is on the mortgage loan. With my half of his pension plan earnings during the time we were married, the back child support he already owes me, and giving up the right to any alimony, I could successfully "buy out" his half of the house so that I could remain in it with our children, rather than have to sell. We have combined debt of around $70,000 that I would take care of in the refinance process. The problem is, there is currently a $110,000 lien on the house due to his child support arrearages for his son that he has with another woman. So how does the lien get paid off? If he sells me the house for $1 in exchange for what he owes me, I refinance into my name alone, where does the lien go? I don't have to refinance an extra $110,000 do I?? A lien will stay on the house until the debt is paid in full, or the lienholder removes the lien (and IMO, from what you've said, the lienholder would be uttlerly retarded to take that lien off) You can't sell a property with a lien on it. If you happen to sucker some knob into buying a home with a lien on it, THEY become the new lucky owners of the mega lien. No lawyer would allow a potential buyer to buy into that, and no potential buyer would be so stupid. So, let's say he sells you his half of the house, and I don't care if it's $1 or $1,000,000. If he sells you the house, the lien becomes yours, not yours and his, not his. You buy the lien with the house. If I were you, I'd get out of that disaster-waiting-to-happen pronto. Liens stay on a property, regardless of who owns it. Trust me, you do NOT want to buy or sell into a lien. |
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