House

I live in a community property state. We have been married for 21yrs. He says he is leaving in five that is when our last son will be done with collge. Most of our life together I have been an at home Mom. He say's when he leaves he will give me the house. But no spoucal support. We owe 116,000. on it . Two years ago it was appraised for 300,000. Now, if he turns the house over to me would I have to pay taxes on the exquity at the time of turn over ,would the value be considered income?

by bonflecka 2 Posts
Posted on 9/7/2008 7:59 PM

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Tags: house , taxes
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Answers for "House" (2) (You must be logged in to answer)

Value is not income, taxes depends on what is agreed to in the divorce settlement - and no alimony? HA! You will be entitled to it if he likes it or not, so I suggest you ask for it.

You really want to spend the next 5 years miserable? Don't you think your kids realize you two aren't "right"?

You do realize that parents who "wait" for their kids to get out of school actually cause more harm than good because they are left to their own devices to try to cope, instead of getting the help they need through counseling the parents provide? Not to mention parents who split and have semi-grown children, tend to put them in the middle and expect them to "choose a side" - what you are doing is not healthy...

by spaznskitz 7625 Posts
Posted on 9/7/2008 11:45 PM

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This is crazy...how would you make the payments? You need to talk to a lawyer. Believe me they (stbx) will try to pull anything.

by bleedinglovepain 760 Posts
Posted on 9/7/2008 9:26 PM

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