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Old 09-24-2011, 10:01 AM
thethanksiget thethanksiget is offline
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Default This makes sense - is it correct? Anyone?

Quote:
Originally Posted by cory View Post
So - is this how it should work??? I'm using round numbers for simplicity

2010 I paid $250,000 for the house - had a mortgage of $100,000., therefore equity of $150,000 - split 50/50 my equity $75,000, ex's equity at time of separation $75,000

2011 sold house for $252,000 - mortgage $98,000., total equity of $154,000 - ex's portion $75,000 (as it was at date of separation), mine $79,000. (this is where I recoup my principal paid), property taxes paid should be added on separately thru adjustments?

the 50% calculation will be based on the value of the house at time of separation - not what I sold it for ...the extra profit (the way the law reads) is mine.........any monies put into the house during the marriage - is 50/50 - regardless of who put what in.

thanks in advance for your help

Can anyone with knowledge of this matter respond and confirm this? Does the spouse that continues to pay the mortgage + property taxes and house insurance benefit from the reduced principal and tax and insurance payments from the time of seperation to the time of sale of the matrimonial home?
Makes perfect sense. Answer please.
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