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Judge Says He Can't Rule On Hogan Condo Dispute Yet

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By STEPHEN THOMPSON | The Tampa Tribune

Published: July 11, 2008

Updated: 07/11/2008 04:42 pm

CLEARWATER Pinellas-Pasco Circuit Judge George Greer ruled this afternoon that there are too many issues that need to be resolved before he can decide whether to send Hulk Hogan to jail for failing to close on a $4.2 million Las Vegas condominium deal with his estranged wife Linda Bollea.

For one, it's not clear whether a closing was scheduled on May 30, as Bollea's attorneys claimed, Greer said in a three-page ruling issued today.

It was also unclear how defaulting on the purchase is going to affect the couple financially, Greer said.

Also, if as Hogan's attorneys claim Nevada doesn't recognize the type of joint ownership of the property that was set up under the purchase agreement, that would affect Greer's ultimate decision, he said.

Bollea wants to go ahead with the purchase, which was agreed upon in 2005, when the two weren't having marital difficulties. Her attorneys have said she thinks it's a good investment.

Hogan, whose real name is Terry Bollea, has said through his attorneys he wants out of the deal because property values have plummeted in Las Vegas, and the condominium is worth $1 million less than the purchase price.

Hogan's attorneys have also said Hogan has his eye on consolidating his finances to brace for a possible judgment against the family as a result of a civil suit filed by the guardian for John Graziano. The Bolleas' son, Nick, wrecked his car while racing last summer, leaving his sole passenger John Graziano, an Iraq war veteran, with brain damage.

One of Hogan's attorneys, David Houston, declared Greer's ruling a victory for the former wrestler. If the type of joint ownership set up under the deal isn't recognized in the state of Nevada, then the deal is dead, regardless of whether there was a closing date or what effect financially defaulting would have on the couple, he said.

An assistant to A.J. Barranco, the Miami lawyer representing Bollea, said Greer's ruling had no effect whatsoever. While it refused to jail Hogan, as Bollea wanted, for failing to close the condominium deal, it also refused to allow Hogan to extricate himself from the deal, the assistant said.

Either Hogan or Bollea can return to court with additional information to make their respective cases again, Greer's ruling says.

Reporter Peter Bernard of News Channel 8 contributed to this report. Reporter Stephen Thompson can be reached at (727) 451-2336 or spthompson@tampatrib.com.

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