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Caddis
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Reged: 04/07/10
Posts: 4
Personal Loan used for home
      04/07/10 11:25 PM

Going through a divorce in AZ and have a question regarding a personal loan from mother in law which was used to purchase a house in 06. We are paying the loan back into his families trust fund. My husband and I are the only ones listed on the deed. The personal loan isn't tied to the house by a deed of trust, etc.

Husband wants to stay in the house. The property value has declined somewhere in the neighborhood of 100k since we purchased it in 2006. (This is a guess as we haven't had an appraisal on the home). Husband feels that I am responsible for 1/2 of the loss in value on the home and refused to sign divorce papers. This is the only thing holding the divorce up, no other problems in division of property, debt, etc.

This seems absurd to me and also to the attorneys I consulted with. I am currently represented and we have had one mediation and another is scheduled for June. I have offered 10k repeatedly but husband won't budge.

I wanted to get some thoughts on this. Is it likely a judge would allow my husband to stay in the home and require me to pay him 50K for the decline in the market value? Or would it be more likely that the judge orders the house sold and splits the debt? Also, since I am on the title I'm assuming if the house were ordered sold, I'd get to approve the buyer? (He has threatened that he would just buy the house back and continue paying back into the family trust).

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Subject Posted by Posted on
* Personal Loan used for home Caddis 04/07/10 11:25 PM
. * * Re: Personal Loan used for home johnsmithy   04/08/10 09:08 AM
. * * Re: Personal Loan used for home BeachBabeRN   04/09/10 08:08 AM
. * * Re: Personal Loan used for home BeachBabeRN   04/09/10 08:10 AM
. * * Re: Personal Loan used for home Sherron   04/09/10 08:20 AM
. * * Re: Personal Loan used for home Caddis   04/09/10 01:05 PM
. * * Re: Personal Loan used for home Sherron   04/09/10 02:45 PM
. * * Re: Personal Loan used for home d2njti   04/09/10 09:40 AM
. * * Re: Personal Loan used for home d2njti   04/08/10 09:50 AM
. * * Re: Personal Loan used for home johnsmithy   04/08/10 12:18 PM
. * * Re: Personal Loan used for home d2njti   04/08/10 06:59 PM
. * * Re: Personal Loan used for home Caddis   04/08/10 11:03 PM
. * * Re: Personal Loan used for home Sherron   04/08/10 11:13 PM
. * * Re: Personal Loan used for home Caddis   04/09/10 01:34 AM

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