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CS and sell of a house

Started by Kevinswife, May 24, 2004, 03:04:19 PM

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Kevinswife

Hey Soc,

Me again.  Just a quick questions or should I say questions.  

1.  If the non custodial sells a house would that be considered income?

2.  Would it matter if the money was used to purchase a new house or just put in a bank account.? (in this case it was put into a bank account and used for a sport car).

3. What if the the ex has a husband whoes name was on the house along with hers?

4.  Is there anything we can do to get the daughter some of the money for collage?

5.  How could they not use this when they used my husbands bonuses, OT, divedends and income tax refund for income.

In our case I am not sure if the new husbands name was on the house since she carried this house over from the divorce with my husband.  She told the judge she makes 10k a year from rental properties and did not include this sale that she made 150,000 from. She pays 178.00 in child support while living high on the hog.  This just seems wrong since we paid 1,100 a month.

As always thank you again and again..  

socrateaser

>1.  If the non custodial sells a house would that be
>considered income?

If you routinely buy and sell houses for profit, then it is income. However, if it is a one-time sale of a residence, then it is not income, because there is no reasonable likelihood of you selling your residence again, until you first purchase another.

>
>2.  Would it matter if the money was used to purchase a new
>house or just put in a bank account.? (in this case it was put
>into a bank account and used for a sport car).

It might, but I doubt it.

>
>3. What if the the ex has a husband whoes name was on the
>house along with hers?

Irrelevant.

>
>4.  Is there anything we can do to get the daughter some of
>the money for collage?

I have no facts with which to analyze your circumstances, so I can't comment.

>
>5.  How could they not use this when they used my husbands
>bonuses, OT, divedends and income tax refund for income.

The items you describe are all "reasonably likely" to reoccur, thus they are considered income.

>
>In our case I am not sure if the new husbands name was on the
>house since she carried this house over from the divorce with
>my husband.  She told the judge she makes 10k a year from
>rental properties and did not include this sale that she made
>150,000 from. She pays 178.00 in child support while living
>high on the hog.  This just seems wrong since we paid 1,100 a
>month.

As I said earlier, if this person routinely buys and sells real properties, then it is possible that the sale of a personal residence would be considered income for the purpose of calculating child support.