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peggycy
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(New)
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11/12/07 02:37 PM
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12.6.136.193
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Am I entitled to....
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When my husband and I seperated 7 years ago, I moved out of the house and he made me signed a quick deed on the house, was it binding? Can it hold up in court?
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Re: Am I entitled to....
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Was this during a divorce ? A quit claim ONLY removes your name from the title of the home , it doesn't negate any legal rights you have .
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peggycy
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(New)
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11/12/07 04:06 PM
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12.6.136.193
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Re: Am I entitled to....
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No, we have been seperated for all 7 years, and now he is seeing an attorney. He thinks I am entitled to NOTHING. His reason is he took out money from his IRA account for me to start a business 16 years ago (during our marriage).
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Re: Am I entitled to....
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He's in for a suprise .
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Samsung
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(Platinum)
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11/12/07 06:12 PM
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71.221.46.29
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Re: Am I entitled to....
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How is your business doing now? Is your income larger than his? Do you have any retirement accounts?
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peggycy
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(New)
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11/12/07 10:01 PM
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24.178.97.251
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Re: Am I entitled to....
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My business is struggling, my income is larger but the business has alot of debt. He is unemployed - again. However, his house is just about paid for and it is worth some money, he has a 401K and an IRA account. During the first 25 years of marriage, my income was the main source of income, and his was a secondery income. He used his income to invest in the 401K and IRA, both are under his name.
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Samsung
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(Platinum)
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11/12/07 10:05 PM
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71.221.46.29
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Re: Am I entitled to....
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You may both be surprised as to what each other is entitled to, and you may be opening up pandora's box. You have been the main breadwinner, you own a business, he is unemployed, and you have a long term marriage. These are a recipe for financial disaster for you. Do you have an attorney? You need one to tell the pros/cons.
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peggycy
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(New)
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11/12/07 10:17 PM
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24.178.97.251
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Re: Am I entitled to....
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All my assets is tied up in the inventory which he wants no part of. If we split everything (his assets and mine), he will be in the disadvantage and he knows it. He is afraid I will take half of his house and half of his retirement.
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Samsung
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(Platinum)
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11/12/07 10:41 PM
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71.221.46.29
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Re: Am I entitled to....
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I would guess he would want half that inventory in a hurry, if it evens the score at all. Do you have an attorney? Do you have a legal separation in place?
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peggycy
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(New)
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11/12/07 11:01 PM
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24.178.97.251
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Re: Am I entitled to....
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I do not have an attorney, and I cannot afford one right now. He does not want half of the inventory because the business has alot of debt which he wants no part of. We have been legally seperated for 7 years. It may appeared that I have everything and he has nothing. It is not really the case. The business is just a name and I have lots of inventories I cannot sell. I really do not want half of the house or half of his retirement. I just do not think it is fair for me to have nothing since I helped him to build what he has.
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KGrow
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(Platinum)
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11/12/07 11:05 PM
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24.8.144.220
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Re: Am I entitled to....
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"I really do not want half of the house or half of his retirement."
What do you want?
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peggycy
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(New)
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11/12/07 11:38 PM
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24.178.97.251
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Re: Am I entitled to....
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I actually left it up to him to give me whatever he thought was fair, I think it will be fair if he will give me 1/4 to 1/3 of the equity of the house since we paid for it together for 23 years. But he told me I am entitled to nothing. His reason is because I have not pay back the $50000 he took out from the IRA account for me to start the business 17 years ago. The business brought in a very sizable income for both of us for many years until I made a bad decision to buy more inventory than I should have, then came 9/11. And all in a sudden, the business went downhill and I am stuck with the inventory I cannot sell. That is why he does not want any part of the business.
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jbar
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(Platinum)
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11/13/07 01:12 PM
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68.88.201.128
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Re: Am I entitled to....
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I'm glad to see that you are not an "Indian giver". What did YOU think, at the time, the significance of the quit claim deed was? If you thought that it meant nothing, why did you sign it?
You are correct to wish to voluntarily settle with your husband on grounds acceptable to him. I'm sure a court will be glad to "rubber stamp" any such agreement.
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Jada
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(Platinum)
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11/13/07 10:15 PM
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69.115.64.195
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Re: Am I entitled to....
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[quote]I'm glad to see that you are not an "Indian giver". What did YOU think, at the time, the significance of the quit claim deed was? If you thought that it meant nothing, why did you sign it?
You are correct to wish to voluntarily settle with your husband on grounds acceptable to him. I'm sure a court will be glad to "rubber stamp" any such agreement. [/quote]
Actually, she is correct to settle with her stbx on grounds that are acceptable to BOTH of them. The husband isn't the only one in the marraige.
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KGrow
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(Platinum)
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11/14/07 09:43 AM
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24.8.144.220
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Re: Am I entitled to....
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"I actually left it up to him to give me whatever he thought was fair, I think it will be fair if he will give me 1/4 to 1/3 of the equity of the house since we paid for it together for 23 years."
Have you told him this? Being passive in negotiation does not help move things forward.
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peggycy
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(New)
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11/14/07 09:12 PM
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24.178.97.251
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Re: Am I entitled to....
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I signed the quit claim deed without fully understand what it was and truthfully, I was desperate to move out. I was so mentally abused until I could not take it any more, so I signed and moved out. He is not a violent person except when it comes to money, when it comes to any money issue, he goes crazy, totally unreasonable, bring up issues from years back that had nothing to do with anything. I hate confrontations and I feel so beat down when that happens, I do not have the energy to fight him. He truly believes he should get everything since I have not pay back the money we took out from his retirement account for me to start a business from years ago. Therefore, I have no right to split anything. He wants the house, all the savings in his IRA and 401K. He wants to make sure that all the debts is mine, assets is his. I found out he sold the property we jointly owned in Florida after I moved out. When I found out about it, he simply said since it was purchased before we got married (he signed the paper 3 months prior to our marriage), so that was his, and I am entitled to nothing. I was the one who wrote the check every month for 9 years and 9 months until it was fully paid. And he thought I was greedy to even ask for half of the money. He eventually gave me about 1/4 of the proceed when I questioned him how he sold the property without my signature. And there are more similar situation and I can go on and on.
Can someone tell me if we go to court, will I have a case? I live in GA.
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KGrow
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(Platinum)
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11/14/07 11:27 PM
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24.8.144.220
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Re: Am I entitled to....
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Yes, you will have a case. But it will not be handed to you. You will have to fight for it. I don't know how that squares with your statement that you don't have the energy to fight.
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jbar
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(Platinum)
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11/15/07 01:48 PM
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69.148.82.202
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Re: Am I entitled to....
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===========================================================
Yes, you will have a case. But it will not be handed to you. You will have to fight for it. I don't know how that squares with your statement that you don't have the energy to fight.
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This complicated situation could blow up on you in court and the quit claim deed, along with your admitted statement of the understanding that accompanied it, could be seen as a valid postnuptial agreement. You could spend a fortune on lawyers and appeals trying to oppose this.
Don't try to dismiss the quit claim deed with your husband but, instead, try to negotiate for the best settlement you can get from him, based upon law, for any rights you may have to the retirement accounts or other assets only. Be prepared to find that the present liquidation value of these retirement accounts is a fraction of what you may imagine--although you don't have to tell your husband this.
Disclaimer: Not legal advice
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adrenaline
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(Platinum)
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12/25/07 12:38 AM
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204.17.31.126
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Re: Am I entitled to....
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Seems like a dead thread, but I was just thinking of something. I am assuming that she signed the doc because he was trying to get a loan. Did he give you the money to start your business out of the equity of the house?
I understand what you are saying about putting money into the house and not getting anything, but did he put money into your business? If you get money from him he will be able to get money from your business. It has been 7 years I say cut your losses and move on. I agree with everybody here you will have to fight and you may loose the battle probably not worth the heart attack. I would talk to a couple of lawyers. Don't take the word of only one.
Doesn't seem worth it, but I don't really know your story.
Remember just because you have a lot a debt you are still making money. That is what the court will look at.
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