money question

Posted by: tlw21

money question - 06/07/05 11:33 PM

I am asking this for a relative who does not have access to the internet. They sold the house and the proceeds went into a joint account. She took all the money out the same day and will not give him his 50% like they agreed. Neither has filed for a divorce. She is living in another state and cannot file in that state for 6 months. She has only been here for like a month. He plans to file for a divorce in AZ where he lives. Is their any chance he can get his 50% share or has she gotten away with this?

Also can the court order her to put the money in an escrow account until it can be divided? Of course that is if the court will make her give the money back.

Thanks for any help you can give him.
Posted by: AZRN

Re: money question - 06/08/05 10:19 PM

It's possible he can get an order to have the money placed into an account, since he certainly is entitled to half the proceeds. However, having withdrawn the money already, it is highly unlikely she'll have it to put into an account by the time an order can be entered. As part of the settlement, he may be able to recoup some of this, either in cash (doubtful) or other property in kind (is there any?)/ in lieu of the amount they would have shared. The longer he waits to file, the less chance he has of getting didly, and frankly I wouldn't hold my breath on his behalf. Maybe a slick lawyer could help, but 1.) she's not even in AZ, making everything harder and 2.) when he actually goes to file, there will BE no community property home to list on the petition! Kind of hard to divide the proceeds from something that has already been disposed of before even filing for divorce. Again a lawyer may help, since she might be seen as having "wasted the community assets" or some such provision.

Bottom line--and not intending to be mean--he chose to put these funds in a joint account and left his share available for her to get at. The fact that she then cleaned him out is so cliche, it makes one wonder why he did that?