Legal Question in Family Law in Tennessee
How is child support amount affected by rental house?
In my divorce, my ex-wife and I were each awarded one of our two rental homes. My ex-wife sold hers and the money was free & clear for her and I received no part of the proceeds. I've chosen to keep mine and rent it out. However, she gets 28% of the payments I receive on that rental house since it's classified as income. Can I quick claim this rental house to my current wife or possibly my father and have it NOT considered in my child support payment? Or what if I decide to sell the home, will I have to give my ex-wife any part of the proceeds I make on the sale of that house?
1 Answer from Attorneys
Re: How is child support amount affected by rental house?
The easy answer is that I would need to see your divorce papers to say for certain. However, first you should talk to your divorce lawyer about your premise about 28%. I assume not all of your rental income is profit to you. Have you deducted the business expenses incurred in generating that amount of rental income? Second, with regard to selling your rental property which you were awarded in the divorce, I don't believe that will be considered income to you and you will want to talk to your lawyer about that as well. Finally, I can not answer your question about quit claiming your interest to a close family member. I suppose the argument could be made that you are willfully reducing your income and that income should be imputed to you. I have not done the research on this and I can not give you a good answer. Please hire counsel to research your issues to give you a more definitive answer. Best of luck.
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