Legal Question in Family Law in Michigan
in a divorce paper if it states that i owe money if i sell a house and i don't sellit but quit claim deed it do i still owe that money
1 Answer from Attorneys
it depends if you are quit claiming it to hide any profit that you would normally make, or if you are simply deeding it back to the mortgage company because you can't afford it. It also depends on the exact language of the Judgment - it probably says "if" you realize a profit, then you must split it with your ex. as we all know, many people are not realizing a profit on the sale of real estate. Depending on when your judgment was entered, you may need to have it modified, such as if it was entered before the real estate market went into the crapper. Or perhaps your lawyer did not have the language in the judgment worded properly.
If I reviewed your judgment and had a few more details about this property transfer you are thinking of doing, I could provide you with more accurate legal advice. If you'd like to retain me to review your divorce judgment and provide a legal analysis, please let me know. Thanks.