Legal Question in Real Estate Law in Missouri

My ex-husband is an attorney and it has come to my attention that he used the equity in the home that was awarded to me by way of a quit claim deed as collateral for a personal loan. He does not own the house. How can he use that to secure a loan? He also wrote on the application that he earns three times more than he said in court three months ago. Is this fraud? Is it an ethics issue?


Asked on 9/13/09, 10:37 pm

1 Answer from Attorneys
Anthony Smith LawSmith

If your ex tried to use equity that he does not have to secure a loan, it is a problem for the lender. If he quit claimed equity to you that was already pledged as collateral for a loan, it is your problem. You may want to redeed that interest to another person, before teh lender records their lien.

If your ex lied in court about what he earns, then it may be the basis for acontempt citation from the divorce court. It may also be an ethical violation as far as the Bar is concerned. If he lied to the lender, then it is the lender's problem. It may be viewed as fraud by the lender, who may or may not pursue it. The bottom line is if your ex pays the loan, then most of your problems are resolved. If he makes more than the support and property settlemtn Orders woudl indicate, it may be a contemptable offense or lack of diligence on teh part of yoru attorney.

Good luck

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Answered on 9/14/09, 1:04 pm


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