stever
New
Reged: 05/30/06
Posts: 6
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Hello,
Just looking for some info. I purchased my home with wife #1 in 1990. Divorced in 1996 and I retained the family home in return for other asstes. Remarried in 1998 to woman with two children. Refinanced in 2003 with both names on the mortgage and deed. Now she bought a townhouse, is moving out and wants half the equity in the house. What is she really entitled to? After I get this answer, I must find out what types of assets I can use to offset this equity. She spent her proceeds from her home sale for cars and college credits for the kids. Now they are spent down and I am looking at a potential large claim against the home equity. Please advise.
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stever
New
Reged: 05/30/06
Posts: 6
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Just Thought I would ask again.
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clydebevi
New
Reged: 08/20/06
Posts: 4
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You will have to get the home appraised. Whatever the value has increased since 1998 you will be required to giver her half.
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dmc
Platinum
Reged: 06/28/06
Posts: 2948
Loc: Pennsylvania
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That is a shame, but it's probably right. I assume you are going through an attorney?
--------------------
Donna
Touching Someone's Heart for a Mere Second Can Touch Their Soul for a Lifetime.
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stever
New
Reged: 05/30/06
Posts: 6
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Also, she received basically no child support during the marrage. He is behind $60k in support that is just now comming in a little at a time. Of course her view is that is all her money even though I footed more than 1/2 the cost of raising the kids when support was not there. I am meeting with a lawyer soon to plan my course of action. I hate having to go after some of these assets to offset the equity in the home. But I guess everything I spent raising the kids will be viewed as a gift??
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mistake#2
Platinum
Reged: 07/19/06
Posts: 3257
Loc: Florida
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Your right on the kids, you had no legal obligatio to support them.
Pretty much all assets would be split 50/50 - unless she can prove they came from sale of her home, that might mean a less equal split.
As far as equity in house, if you refinanced then she would more than likely be responsible for a portion of that as well as receiving part of the equity.
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melanie14
Platinum
Reged: 03/11/06
Posts: 3058
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steve, i sent you a pm see the little envelope on the top of the screen..click on it
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mmr
New
Reged: 11/29/06
Posts: 2
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Musband has been out of the hose since 1998.ther was seven children between the ages of 2-15.instead of child support he paid 1000.00 a month in bills,he now is seeking half the house and the market value of today.i have made improvements to the home.
i want the assessment of the home in 1998 to be used as the value not 2006. he did not pay child support .
we had two lehal agreements through his attorney that he did not have filed, that gave me the house.he is on his second attorney. i have never had an attorney.i trully do not have it.
i want to offset the loan i took for school, for living expenses while we were marries to offset what ever equity he may have in the property.
all 7 children live at home , three are in college he pays nothing.................i mean nothing.................
he is now pAYING CHILD SUPPORT FOR THREE CHILDREN,724.Q MONTH.HE IS A HAPPY CAMPER.HE HAS SEEN THE CHILDRENMBUT HAS NEVER TAKEN THEM FOR A OVERNIGHT,NOR DOES HE GO TO SCHOOL MEETINGS{TWO ARE IN SPECAIL EDUCATION}HE HAS 5 WEEKS VACATION,AND DOES NOT TAKE THEM{HE LIVES 4 BLOCKS AWAY}HIS SICK TIME IS USED FOR MAKING MONEY ON THE SIDE,THAT IS ABOUT THREE WEEKS AYEAR.HE WAS NAMED ASSOCIATE OF THE YEAR,
GREAT EMPLOYEE,CRUEL AUSIVE FATHER.............NOT A LAW IN THE LAND CAN EVER FIX THE DAMAGE HE HAS DONE,AND HE IS REALLY VERY PLEASED WITH HIMSELF................
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