Legal Question in Family Law in Massachusetts

hidden assets

My sister in NY is getting divorced. The husband also in NY claims that the large down payment used to purchase their home 5 yrs ago was a loan from his parents in the Middle East in Lebanon. The parents in Lebanon have filed suit against the couple for the $340K down payment. This is a phoney loan which never existed, which is really an attempt by the husband to get more than his fair share of assets. Nothing about a loan is in writing: no promissory note, interest rate etc. and no payments toward this ''loan'' were ever made. Other than a single piece of paper from a monthly statement from a lebanese bank from 5 years ago, which shows a wire transfer of the money to the couple's account, there exists no other proof. The lebanese parents refuse to provide further documentation of the history of their bank account. My sister has good reason to believe that her husband brought the money to Lebanon and then wired it back to make roundtrip as if it originated in Lebanon from the parents' account. What should my sister do? Can the in-laws in Lebanon succeed with this fraudulent lawsuit for their son refusing to show the history of their bank records in Lebanon? Any links to caselaw?

Thanks,

Brother Joe


Asked on 12/26/06, 1:01 pm

1 Answer from Attorneys
Daniel Clement Law Offices of Daniel Clement

Re: hidden assets

You will have to resolve the origins of the funds for the down-payment. If the money was, for instance, the husband's pre-marital property, he will be entitled to its return. If it was marital, the down-payment will be distributed with the remainder of the equity in the home.

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Answered on 12/26/06, 3:35 pm


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