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Updated over 7 years ago on . Most recent reply

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Barney Trader
  • Investor
  • Mcdonough, GA
4
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6
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Need tenant out of property I got in divorce settlement

Barney Trader
  • Investor
  • Mcdonough, GA
Posted

So I got a divorce. My ex-wife (and myself but I am not on title) have a rental house. It is titled under an LLC owned solely by my ex-wife. She will not quitclaim the property to me until I sell or refinance the house. I can't qualify for the mortgage.

The tenants are awesome. I love them to pieces, but I need the cash from this house. They are elderly and minority. There is no current lease on the house. I believe 60 days notice must be given to the tenants on GA. 

I am a real estate agent. So I am worried about trying to get them out of the property, because really I am not the owner as far as title goes. But I was granted the house in the divorce. Ex-wife and I are not on friendly terms. 

How do I get them out? Can I sign a one off management contract, even though I'm not on title? Can a management company get the tenants out in a kind and legal way?

Oh. And last thing. We bought this property as a 1031 exchange. The original property was gifted to my ex-wife. We then bought this house 4 years ago for 52k. I did all renovations myself and spent 12k. Now property will sell for 145k. Since this was awarded to me in the divorce, usually assets gained in a divorce settlement is non-taxed, but since She bought it as a 1031 exchange, do I get stuck with the capital gains taxes?

Any help would be appreciated. 

Best!

Barney Trader

Most Popular Reply

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34
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Nick Dumas
  • Investor
  • Levittown, PA
10
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34
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Nick Dumas
  • Investor
  • Levittown, PA
Replied

This is complicated.. I would highest suggest u and ur ex wife go to a lawyer and get a document agreeing to all the terms.

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