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Updated over 4 years ago on . Most recent reply

User Stats

59
Posts
37
Votes
Daron Williams
  • New to Real Estate
  • Jasper texas
37
Votes |
59
Posts

It looks like divorce

Daron Williams
  • New to Real Estate
  • Jasper texas
Posted

So when I first became a biggerpocket's member I asked a question in the forums is REI worth a divorce.. my question is now how can I protect my two vacant lots on the lake that i just purchased since August now that it looks like divorce is for sure coming.. for the past couple of weeks she would leave during the day so I could be able to educate myself with watching podcasts or reading books or driving for dollars etc.. she's been gone for the past three days and nights and I barely heard from her. when I said something about why is her stuff still here if she wasnt going to come home she said that she would come pack it tomorrow.. well I just got done packing it tonight and I'm wondering if there's a way to protect my investments.. the whole marriage i have been the one taking care of both of us and its been horrible every since i got laid off from working in the plants in west texas.. i was trying to hang on till i could atleast get a post nup signed but now it dont look like that is going to happen.. i was trying to make a better life for the both of us and now it looks like my REI days might be done.. I don't even know what category this would fall under and any advice given would be very much appreciated.. thank you in advance

Most Popular Reply

User Stats

741
Posts
424
Votes
Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
424
Votes |
741
Posts
Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
Replied

I feel your pain @Daron Williams First, find out if your problems can be repaired or if you have to go your separate ways. No hurry to start selling things. Keep your mortgage payments current, or arrange forbearance to protect your marital assets. 

In time, the two of you will sit down and divide the marital assets and a judge look it over and stamp 'okay' on your agreement. Dividing real property is difficult because it may have to be sold. When I had the Sit Down, we agreed on the value of some of the properties and needed a few appraised. After each was assigned a value, we traded the assets until we were both satisfied with the division. Other examples included in the division are the cars and retirement accounts. Every asset has a value to trade. 

Talk to the pros and get help because emotions cloud one's sensibilities to value things.

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