Legal Question in Family Law in Texas

OLTI of Possession?

A friend mentioned his divorce attorney had recommended something sounding like ''OLTI of possession'', which could be used to divide the house he and his wife had owned. I remember he said it would have allowed him to keep the low-interest mortgage he already had, get a second mortgage to pay his wife, but only pay re-finance interest rates on that 2nd mortgage. I'm sure I'm not spelling it correctly, but can you tell me what this ''OLTI of Possession'' is and how to get more information?


Asked on 8/17/03, 10:57 am

1 Answer from Attorneys
Eric Williams Law Office of Eric L. Williams

Re: OLTI of Possession?

Its "OWELTY"

Used to divide interests in a divorce, and generally establishes a separate lien.

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Answered on 8/17/03, 12:16 pm


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