Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: brucedoe Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123497  
Subject: Do I Need A Lawyer Date: 1/19/2013 2:37 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
I have been divorced for 25 years. A part of the settlement with my Ex was that should would get our townhouse, she would assume the loan, and I would guarantee the loan (30 yrs). I could trust her with money, and to the best of my knowledge she has never missed a payment on the loan. At least no one has ever come at me for money. Now I am told she is moving to a continuing care facility (We are both in our 80s) and selling the townhouse, which she is legally able to do, though it would be nice if she had given me first refusal. I want to make sure the loan on the townhouse is paid off and that I am absolved from any guarantee of it.

My thought is that when she sells the house, if it is on the up and up (and I have some suspicions), she will have to pay off the loan. But will I get any confirmation of this as guarantor?

Should I get a lawyer? I live 350 mi. away now with my second wife (We too are moving into a continuing care facility), but I think I can relocate a lawyer who wrote up my Virginia trust if she hasn't retired.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2015!
Fistula Foundation: A World of Good!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Saul's Investing Discussions

Gilead Sciences CC Thoughts
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.