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Old 05-13-2017, 10:56 AM
Berner_Faith Berner_Faith is offline
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Join Date: May 2011
Location: Ontario
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Originally Posted by Stillbreathing View Post

You only had to pay 1/2 the debit and 1/2 the equity????????

What the ...., is going on in family law? I was told I had to pay for 100% of both the debt and equity! I could easily have come up with that .

In my case I had to come up with it all and the money would be held in trust .

Can't believe there are two sets of laws even in family court.

You must be mistaken.

I think you are talking about the same thing... the ex was responsible for half the debt on the house and he really only had to pay her half the equity... remortgaging would take care of the debt and payout. There are not two sets of rules... it's simple math. That being said, you are both entitled to fair market value so offer fair market value in a proper offer to settle.

House was worth $200k
Mortgage is $100k

Ex gets $100k equity
OP gets $100k equity

They are each responsible for $50k of the debt, thus the payout to the ex is only $50k not $100k so half the equity and half the debt.

If you are saying you have to come up with all of it are you saying your ex wants to full $100k equity on the house rather than just their 50% share?

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