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Updated about 9 years ago,

User Stats

295
Posts
34
Votes
Burt L.
  • Real Estate Investor
  • Steamboat, CO
34
Votes |
295
Posts

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

Burt L.
  • Real Estate Investor
  • Steamboat, CO
Posted

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.

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