ChatterBank9 mins ago
Property while in prison
3 Answers
Just been discussing this in work. Mainly about that woman who tried to kill her husband with anti-freeze and has been given a 30 year sentence.
When someone goes to prison like this, what happens to the property? Presumably she can't pay the mortgage, since the reason she tried to bump hubby off was because she had massive debts. I imagine that, in this case, the husband will still live in the house anyway, but generally speaking what happens?
When someone goes to prison like this, what happens to the property? Presumably she can't pay the mortgage, since the reason she tried to bump hubby off was because she had massive debts. I imagine that, in this case, the husband will still live in the house anyway, but generally speaking what happens?
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The hubby in this particular case is now living with his parents as he needs full-time care.
That is an interesting question though. He obviously can't live in the house so lets assume it goes up for sale and that the debts were in her name only. If there is no equity in the property then it gets sold and the mortgage will be repaid with no money left. Her debts would still be outstanding.
If there was equity in the house and the house was in joint names, when the house was sold would her debts be repaid before hubby got his share? Or would they both get an equal share of the equity and the debts are still hers?
From what I can gather, the debts were not mortgage related as her husband knew nothing of them.
That is an interesting question though. He obviously can't live in the house so lets assume it goes up for sale and that the debts were in her name only. If there is no equity in the property then it gets sold and the mortgage will be repaid with no money left. Her debts would still be outstanding.
If there was equity in the house and the house was in joint names, when the house was sold would her debts be repaid before hubby got his share? Or would they both get an equal share of the equity and the debts are still hers?
From what I can gather, the debts were not mortgage related as her husband knew nothing of them.
Oops, aparently some of it was mortgage debt...
"The judge said Knight planned to use her husband's death benefit to clear debts from the �17,000 loans she had taken out in his name and the re-mortgage she had also obtained.
...Last month, he told the court that he knew nothing of the loans taken out in 2003 and 2004, which motivated his wife's desire to kill him."
That's in our local paper today (I live about 2 miles away from wherethey lived.)
"The judge said Knight planned to use her husband's death benefit to clear debts from the �17,000 loans she had taken out in his name and the re-mortgage she had also obtained.
...Last month, he told the court that he knew nothing of the loans taken out in 2003 and 2004, which motivated his wife's desire to kill him."
That's in our local paper today (I live about 2 miles away from wherethey lived.)
i wondered the same thing about steven wright as i live just a few miles from his house. Although they were talking of demolishing his house - which was rented so the landlord may not be too pleased! But he obviously has personal items and i wondered what happens to them. An after thought though they say life is life in his case so i guess he will never need anything again.
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