Benzinga and Yahoo Finance LLC may earn commissions or revenue on some articles through the links below.
Rebecca called for advice after their relationship ended, leaving her with a 20-acre ranch worth $1 million and six animals.
She told the financial expert David Ramsey on “The Ramsey Show” that she is now the one who takes care of the property alone. “You’re sitting on a half-million-dollar windfall because this guy is crazy,” Ramsey said.
Don’t miss:
Rebecca said her ex-boyfriend of two years had promised to marry her before purchasing the ranch for cash and adding her name to the deed. She said he moved there for three weeks and then urged her to sign the property into trust before suddenly leaving.
Ramsey said the situation “almost seems like he was trying to scam her.” Co-host Rachel Cruz He said it was rare, adding that “it’s usually him calling us and saying, ‘I bought a ranch with my fiancée, who I’m no longer with.'”
Rebecca said she had rented her own house and left her job to move because of the relationship. He told Ramsey that he wanted to act ethically when determining whether to sell or trade the property.
Trending: The Microsoft Climate Innovation Fund Just Backed This Farmland Manager: And accredited investors can join the same fund
Ramsey discussed the legal and moral aspects of his situation. “If I’m in your shoes, I don’t feel entitled to $500,000 of your money,” he said. Rebecca said she had left a stable job in private aviation operations and accepted a new position that paid the same but was less secure.
Ramsey said the loss had financial consequences. “It cost you a good job,” he said, suggesting that partial compensation might be justified. Cruze said that because Rebecca’s name appears on the deed, she legally owns 50%. Ramsey added: “This moron can’t do anything about it – he intervened.”
Rebecca said the ranch purchase was intended to show commitment and that her ex-partner was able to resolve the matter financially.
See also: GM-backed EnergyX is solving the lithium supply crisis. Invest before scaling global production
Ramsey said Rebecca should work with an attorney to propose a purchase. “Ask your attorney to contact him and say, ‘I’ll sign you a deed for $200,000,'” he said. He advised him to sell the animals, rent a place temporarily and return to his own house once his tenants moved out.