My boyfriend's parents are getting divorced. They have a dairy farm. The father works it for his income. The wife is trying to take the farm. They have 3 kids. This is fathers only source of income. Mother has moved and filed for alamony also. Does anyone have any advice on this? My boyfriend is thinking of buying the place so that the mother doesnt get it. Couldnt he buy it and sell it back to the father? Could this be put in a trust for the kids? How can this be done without the mother getting her hands on this? They are technically still married and she's taking him for everything he's got. The kids dont even talk to her anymore.
Divorce/Property question
- Thread starter alleycat
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Peter Parka
Well-Known Member
Well I've no idea how law works over there but I didn't know you had a new boyfriend? Congratulations!
White2000GT
Active Member
Laws differ from state to state, but it seems to me that if this is his dad's source of income then legally she won't be able to take it from him. Least it doesn't seem like she would be able to take it from him and ask for alimony as well. How does she expect him to pay alimony if she takes his only source of income?
It all depends on the state laws.
If the courts decide that it is a marital asset, then if he sells it to your brother she is entitled to a portion of the sale. If he sells it for less than fair market value and the court decides that she is entitled to 50% of the marital estate, he will have to pay her 50% of the fair market value, not what he actually sold it for.
example: Farm worth $100,000.00 He sells it to your brother for $1,000.00 to avoid losing the farm. The court says 50/50 split. He will owe her $50,000.00 just for the farm. They do this so one spouse cannot get over on the other. It's all based on the marital estate value when they file for divorce.
Again, you have to look at the divorce laws in your state.
If the courts decide that it is a marital asset, then if he sells it to your brother she is entitled to a portion of the sale. If he sells it for less than fair market value and the court decides that she is entitled to 50% of the marital estate, he will have to pay her 50% of the fair market value, not what he actually sold it for.
example: Farm worth $100,000.00 He sells it to your brother for $1,000.00 to avoid losing the farm. The court says 50/50 split. He will owe her $50,000.00 just for the farm. They do this so one spouse cannot get over on the other. It's all based on the marital estate value when they file for divorce.
Again, you have to look at the divorce laws in your state.
andcuriouser
Active Member
I'd agree with Whitey, but I'm not really sure how divorce laws work in the States.
She also doesnt work. The children are 24, 21, and 18. She asked for child support for the 3 months that the 18 year old was 17 and was granted it. None of the kids live with her. Sounds like she needs a smack down, in my opinion...
Here is a pic of my sexy, lovely, god sent angel.... He's home now from Iraq obviously.
Here is a pic of my sexy, lovely, god sent angel.... He's home now from Iraq obviously.
Trust me when I say that the courts don't care if this farm is his only source of income. At least here in PA, they will take it in a heart beat. I have seen it with family owned buisnesses... It makes a real mess for everyone
Subd. 3b. Marital property; exceptions. "Marital property" means property, real or
personal, including vested public or private pension plan benefits or rights, acquired by the parties,
or either of them, to a dissolution, legal separation, or annulment proceeding at any time during
the existence of the marriage relation between them, or at any time during which the parties were
living together as husband and wife under a purported marriage relationship which is annulled in
an annulment proceeding, but prior to the date of valuation under section 518.58, subdivision
1. All property acquired by either spouse subsequent to the marriage and before the valuation
date is presumed to be marital property regardless of whether title is held individually or by the
spouses in a form of co-ownership such as joint tenancy, tenancy in common, tenancy by the
entirety, or community property. Each spouse shall be deemed to have a common ownership in
marital property that vests not later than the time of the entry of the decree in a proceeding for
dissolution or annulment. The extent of the vested interest shall be determined and made final
by the court pursuant to section 518.58. If a title interest in real property is held individually by
only one spouse, the interest in the real property of the nontitled spouse is not subject to claims
of creditors or judgment or tax liens until the time of entry of the decree awarding an interest
to the nontitled spouse. The presumption of marital property is overcome by a showing that
the property is nonmarital property.
"Nonmarital property" means property real or personal, acquired by either spouse before,
during, or after the existence of their marriage, which
(a) is acquired as a gift, bequest, devise or inheritance made by a third party to one but not
to the other spouse;
(b) is acquired before the marriage;
(c) is acquired in exchange for or is the increase in value of property which is described in
clauses (a), (b), (d), and (e);
(d) is acquired by a spouse after the valuation date; or
(e) is excluded by a valid antenuptial contract.
personal, including vested public or private pension plan benefits or rights, acquired by the parties,
or either of them, to a dissolution, legal separation, or annulment proceeding at any time during
the existence of the marriage relation between them, or at any time during which the parties were
living together as husband and wife under a purported marriage relationship which is annulled in
an annulment proceeding, but prior to the date of valuation under section 518.58, subdivision
1. All property acquired by either spouse subsequent to the marriage and before the valuation
date is presumed to be marital property regardless of whether title is held individually or by the
spouses in a form of co-ownership such as joint tenancy, tenancy in common, tenancy by the
entirety, or community property. Each spouse shall be deemed to have a common ownership in
marital property that vests not later than the time of the entry of the decree in a proceeding for
dissolution or annulment. The extent of the vested interest shall be determined and made final
by the court pursuant to section 518.58. If a title interest in real property is held individually by
only one spouse, the interest in the real property of the nontitled spouse is not subject to claims
of creditors or judgment or tax liens until the time of entry of the decree awarding an interest
to the nontitled spouse. The presumption of marital property is overcome by a showing that
the property is nonmarital property.
"Nonmarital property" means property real or personal, acquired by either spouse before,
during, or after the existence of their marriage, which
(a) is acquired as a gift, bequest, devise or inheritance made by a third party to one but not
to the other spouse;
(b) is acquired before the marriage;
(c) is acquired in exchange for or is the increase in value of property which is described in
clauses (a), (b), (d), and (e);
(d) is acquired by a spouse after the valuation date; or
(e) is excluded by a valid antenuptial contract.
andcuriouser
Active Member
Just found out that he bought the farm after they were married. Dad cant afford to buy her out of half of it. He cant sell it to his son because on the date the papers were filed his assets become frozen. If he sells it he has to pay the 100% back to her. ugh!!
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