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land (inheritance) was left by a deceased parent to a individual.... later on during his marriage money was borrowed and the land (inheritance) was used as collateral and that loan was paid off. Later both parties divorced and nothing in the divorce mentioned the land. A few years later he remarries and decides to sell the land...then when land sells and the title company is doing their part they come across the old bank note (1991) where the money was borrowed and her (ex-wife) signature was on the note (paid off)...does the fact that they borrowed money and used the land as collateral mean now almost 16 years later...the ex-wife may have some rights to the proceeds of the sale???

2007-02-06 04:31:33 · 1 answers · asked by melinda 2 in Politics & Government Law & Ethics

1 answers

Generally, property given in a will to one person remains solely owned by that person, even during a divorce. The fact that she borrowed money against the property doesn't mean she has any interest in it. Best bet would be to get a letter from the bank stating the loan is paid in full, technically they are the one with ownership interest based on the loan.

2007-02-06 16:53:48 · answer #1 · answered by bestguessing 3 · 0 0

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