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-   -   Reckless Depletion on Rental property - how do I prove ? (http://www.ottawadivorce.com/forum/f3/reckless-depletion-rental-property-how-do-i-prove-21239/)

plainNamedDad44 07-30-2017 03:06 PM

Reckless Depletion on Rental property - how do I prove ?
 
Hi community,

STBX and I acquired a rental property during marriage. She had a retroactive appraisal done back to the date of separation.

There was 3 + years between date of separation and date of appraisal.

Appraisal states that tenant damage was playing an element in the appraisal - i.e. if damage wasn't there, it would be worth more.

STBX did not take steps to keep good tenants and ensure that the tenants were treating the property ok. She let it run down.

She has not evidenced anything to the contrary, i.e. hiring a property manager.

Is this grounds for reckless depletion ?

As usual - thanks.

arabian 07-30-2017 03:27 PM

were you not co-owner of rental property?

I think "reckless depreciation" usually refers to one party failing to pay mortgage/taxes does it not?

How bad $$$ is tenant damage?

plainNamedDad44 07-31-2017 01:35 PM

Quote:

Originally Posted by arabian (Post 222540)
were you not co-owner of rental property?

I think "reckless depreciation" usually refers to one party failing to pay mortgage/taxes does it not?

How bad $$$ is tenant damage?


Hi Arabian,

the property was acquired during the marriage, but put in her name for tax reasons. Upon the date of separation, I didn't have her permission to step foot on the property i developed and renovated with my own two hands.
The damage is affecting the appraisal by 50K.

standing on the sidelines 07-31-2017 03:13 PM

isnt tenant damage something that landlords have to consider when renting?

rockscan 07-31-2017 05:26 PM

If the tenants damaged the property then she would have to go after them for the damage. If she has let it fall into disrepair since the separation, you would have to get an appraisal done that dates back. Im not sure if that is possible. Im also not sure if you are able to ask for a remedy. You may want to speak to a real estate lawyer?


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