Is this legal?

andvue27 · 2024-12-07T09:27:42+00:00

Aside from the fact that a HELOC should never have been issued without joint consent if you both are on the title… you left out the most critical piece of info here, are you actually divorced yet? That fact alone will determine if the debt is hers alone or y’all’s together.

pk2at · 2024-12-06T20:57:41+00:00

There is nothing like 'illegal' when it comes to marital assets. If the divorce is not final, all marital assets can be used 'fully and completely' by either spouse. After filing for divorce, there is usually a temporary order for financial restraint, but violating this order and cashing out marital assets is not 'illegal'. Its just something you have to settle with her

P_Galley · 2024-12-06T15:29:50+00:00

If you are both named on the deed and the mortgage I don't know any bank that would extend a HELOC without consent of both parties. Even increasing your credit limit , both parties are involved in the discussion. Maybe it's just an unsecured line of credit. My one day on one day off wife set up her own credit card and LOC which I don't see and wasn't aware of.

Feisty_Elderberry_96 · 2024-12-06T13:45:56+00:00

What does "post separation" mean.

Typically - marital assets cease the date the marriage is terminated, which is the date a divorce action is filed in my jurisdiction. This is CRITICALLY important because that's the end-date for your marriage that calculates the duration (so the length of alimony, etc.)

Was their a separation agreement filed with you county clerk? Was their a divorce action filed? Have you asked your lawyer when "officially" per your jurisdiction the marriage was terminated?

FYI - It sucks, but these are all things you need your lawyer to determine and tell you. Which will cost $$.

For example if your separation was just a "kitchen table" agreement not filed, notarized or signed by a judge - chances are she took out the heloc while you were married and it's a marital debt....

Flashy_Yam967 · 2024-12-06T09:13:36+00:00

Usually courts will not look at post seperation or post divorce filing debt as premarital.

Not all debt acquired during the happy times is marital either....such as college loans, gambling debt, medical debt and probably a few others.

EnvironmentalAd3558 · 2024-12-06T06:14:10+00:00

Is post separation debt separate debt of her in the state that you’re at? If so, then the net proceeds then should be first $50,000 from the sale should be distributed to you and then the rest split equally. But does the final decree say otherwise? If so then that decree may need to be revised if she doesn’t agree.

RevolutionaryLaw8854 · 2024-12-06T04:25:57+00:00

Need to see the original loan docs.

FUMoney · 2024-12-06T03:42:35+00:00

Totally illegal. First step, see if your signature was forged on the HELOC paperwork.

YesterdayFormal4359 · 2024-12-06T03:39:51+00:00

She should not have been able to take a heloc out on her own if you both owned the home. You would’ve had to sign off on it.

Content-Class1259 · 2024-12-06T03:31:20+00:00

What they said!!

raginggear57 · 2024-12-06T03:20:51+00:00

Illegal. Fuck her up.

Title	Is this legal?
Author	warwww
Upvotes	3
Comments	20
Date	December 6, 2024 3:16 AM UTC (1 year ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/1h7rslz/is_this_legal/
Archive Link	https://theredarchive.com/r/Divorce_Men/is-this-legal.1537740 https://theredarchive.com/post/1537740

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