What Are a Spouse's Rights in Land That May Be Titled to Only One Spouse
My question involves a marriage in the state of: Illinois
After 38 years of marriage I have finally filed for divorce from my abusive, alcoholic husband.
My question is a bit complicated.
My husband farms and we own ground. He is now claiming that the ground we built our house on is not in my name. However I have found loan papers from 1983 for a construction loan that have my husband's name, my name, and his grandmother's name on them. Collateral for the loan is stated as the 90 acres our house is being built on.
His grandmother owned the ground and gave it to use to build on next to her home five years before her death....at least that was my understanding for 32 years. The loan papers explain that her name is only on the loan because of her previous ownership
My question is, does this prove my ownership and my husband's grandmother's intent that we both own the ground?
I also know that within the last month my husband did some "updating" of information about our land at the courthouse.
Yesterday I found papers for another loan in 1988 that has a different parcel of land as collateral. Both my name and my husband's name is on that loan as well.
Any help would be appreciated
Thanks
Re: What Are a Spouse's Rights in Land That May Be Titled to Only One Spouse
Quote:
Quoting
bjmac
My question involves a marriage in the state of: Illinois
After 38 years of marriage I have finally filed for divorce from my abusive, alcoholic husband.
My question is a bit complicated.
My husband farms and we own ground. He is now claiming that the ground we built our house on is not in my name. However I have found loan papers from 1983 for a construction loan that have my husband's name, my name, and his grandmother's name on them. Collateral for the loan is stated as the 90 acres our house is being built on.
His grandmother owned the ground and gave it to use to build on next to her home five years before her death....at least that was my understanding for 32 years. The loan papers explain that her name is only on the loan because of her previous ownership
My question is, does this prove my ownership and my husband's grandmother's intent that we both own the ground?
I also know that within the last month my husband did some "updating" of information about our land at the courthouse.
Yesterday I found papers for another loan in 1988 that has a different parcel of land as collateral. Both my name and my husband's name is on that loan as well.
Any help would be appreciated
Thanks
You are researching the deeds? If your name is not on the deeds, then you do not "own" the land. Whether or not you are due any share of the value of the land depends on a lot of different factors. If you are not researching the deeds at the courthouse, then that is what you need to be doing.
Normally a family gift (or inheritance) is the sole and separate property of the spouse who received the gift. However, if martial income is spent on the upkeep of the property, and used to pay property taxes and insurance that can result in a portion of the appreciation of the land becoming marital property. For example, if that were the case and the land was worth 100k when it was gifted to your husband, but worth 150k when you divorced, then you might be entitled to 25k (1/2 of the appreciation).
The people who are signers on loans are not necessarily all the same people as those on the deed.
Bottom line, you really need an attorney in your corner on this one.
Re: What Are a Spouse's Rights in Land That May Be Titled to Only One Spouse
I'm have an appointment with my attorney tomorrow. He is a very good divorce attorney and I'm sure he will look into the deeds. But I wanted some early FB. In the end it is up to the judge to decide.
The thing is that the grandmother was 88 years old. She believed she was gifting it to us 5 years before her death. That's why both her name and mine are on the loan papers, but after she signed what she was told to sign she would not have been involved in transferring ownership, she would only have been asked to sign the papers
My real question is, can someone legally use ground they do not own as collateral?
BTW the farm is an S Corp so any improvements were done with Corporate funds. In a divorce an S Corp is part of the marital assets....thx
Re: What Are a Spouse's Rights in Land That May Be Titled to Only One Spouse
You're asking about the 1983 construction loan? You indicated that your grandmother owned the land that was used as collateral, and that she was a borrower under the loan; there's nothing wrong with that.
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Quoting
bjmac
In a divorce an S Corp is part of the marital assets
Was that intended to be a question? Shares of a corporation are an asset and may thus be part of the marital estate.
Re: What Are a Spouse's Rights in Land That May Be Titled to Only One Spouse
No
The 2 people that applied for the loan were my husband and I. The granmother's name appears because she was fiving us the ground. The papers state she is not responsible for repayment
The loan was in 1983, 5 years before my husband's grandmother died. That's when she gave us the ground according to the loan since WE used it as collateral
Re: What Are a Spouse's Rights in Land That May Be Titled to Only One Spouse
Quote:
Quoting
bjmac
The 2 people that applied for the loan were my husband and I. The granmother's name appears because she was fiving us the ground. The papers state she is not responsible for repayment
If she agreed to pledge her property as collateral for your loan, it was her right to do so. Further, it's unlikely that the lender would have given you the loan had she not at least agreed not to fight foreclosure in the event that you defaulted.