Posted by Scott Cook on March 28, 2006 at 12:20:33:
Forgot to mention the house is in California.
Buying my ex-wifes property - Posted by Scott Cook
Posted by Scott Cook on March 28, 2006 at 11:57:52:
My ex and I own a business together. We are good friends and when we split, I gave her the house. We purchased the house for $350,000 and today the value is $900,000. She owes $175,000 on the house. What she wants to do is sale the house to me. She wants $500,000 plus take over payments and this is a great deal for me. My question is can she do this at such a low price. I know capital gains is one reason however she wants my daughter to also stay in the school district where the house is located. I take out a loan for $500,000 and give it to her then take over payments. If anyone knows, please let me know. I am in a hurry and hope my spelling is correct however at this point, my meeting is starting. Thank you. Scott Cook.