Judge Awarded X-Girlfriend Part of the House - He wants Out Of It

[Burt L.]

Heard from an owner whose former girlfriend got a judgement against him in 1980 for a house he bought as a single person in 1975. The former was awarded 20% of the house. A few years ago that 20% ownership was quit-claimed to a son who has controlled the entire house and has refused to forward the 80% of the rent for the last seven or so years. The majority owner wants to sell the 80%.

Not so sure I can find a buyer to buy the 80% or how it would likely play through in court. The majority owner likely has a claim against the son for monies not forwarded but I suspect that right would not transfer to a new owner, unless specifically included. That part could be a good source of leverage to force the current minority owner to release control of the house. The house is currently rented with a management company, and I don't know if they have any culpability for not forwarding rents or if that management agreement is valid without the majority owner - or if they even know about the majority owner.

The majority owner wants to get rid of this, after 35 years of strife- would you run towards or away from this deal, and how to proceed as a wholesaler? The majority owner lives out of the country.

[Michael Gansberg]

Hi Burt,

Instead of getting involved in this deal, I'd like to suggest a few easier ways to make money.

Easier way #1. Become a contortionist, then travel the world selling your services at carnivals. 

Easier way #2. Learn Swahili, then try to be paid for teaching Swahili to first graders in an Alaskan high school while commuting from your home in Colorado. (yes, sharp readers- high schools do not include first grade.)

Easier way #3. Become a typewriter repairman, but insist that your clientele charter private jets for your traveling pleasure.

Easier way #4. Do any other real estate deal besides the one you listed above.

Run away! Run away!!!

Michael