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Divorce & Family Law This forum is for discussing any of the legal issues involved in your divorce.

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  #11 (permalink)  
Old 03-16-2017, 11:14 AM
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Quote:
Originally Posted by Janus View Post
Usually not true. The person living in the house owes occupational rent to the other spouse. Judges usually decide that the occupational rent is roughly exactly the same amount as half of the mortgage payment.

In other words, equity would still be shared equally. She paid more for the mortgage, but she also got to use the house.
This has been going on for six years, though. If she made any improvements to the house (or if she let it fall apart), it could get complicated. I agree that the simplest thing to do would be to say "okay, use of the house offsets the additional mortgage payments", but typically that's after only a few months or a year. If the house has gone way up or way down in value, more complication.

I think the OP needs a lawyer to help ensure that things work out as fairly as possible. Six years is a long time.
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Old 03-17-2017, 01:52 AM
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Im not sure if the price of the house has gone up or down. The bad oil economy impacted alberta housing but she did make alterations to the house like adding a deck.

Btw shes ran a business out of our home for the last 6 years, am I entitled to any profits? Im not going to try and get it but I want some demands of my own just in case she starts asking for unrealistic numbers from me.
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Old 03-17-2017, 08:22 AM
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Originally Posted by Bruce44 View Post
Honestly I dont even want any equity. But what she wants is to live in the house but have me pay half of the mortgage. She wants to keep the car but have me pay half of the financing. She wants all the assets but have me pay half the debts. Her lawyer inflated her head. Im not paying half of anything i cant use. Im ok with paying a little more of the debt because shes been making more payments. But Im not going to pay off the mortgage and then have her stay in the house with her new boyfriend who she has kids with
She's been paying for the house and car for 6 years. You haven't contributed? What other debts are there and who's been paying for them?

If you really don't want any equity tell her to keep it all in exchange for getting your name off the mortgage and car loan and any other debts.

Your other posts lead me to believe you do want something after 6 years... profits from her home business. Not yours.

If there is real equity in the home that wouldn't get burned up in your lawyer costs, then go for it.
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Old 03-17-2017, 09:13 AM
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Quote:
Originally Posted by paris View Post
She's been paying for the house and car for 6 years. You haven't contributed? What other debts are there and who's been paying for them?

If you really don't want any equity tell her to keep it all in exchange for getting your name off the mortgage and car loan and any other debts.

Your other posts lead me to believe you do want something after 6 years... profits from her home business. Not yours.

If there is real equity in the home that wouldn't get burned up in your lawyer costs, then go for it.
1. Ive tried to tell her to get my name off the house and car loans but she doesnt want to refinance. She wants to force me to pay half the mortgage and car loan even though I cant use it. Ive told her I don't want anything. I just want my name off the bills.
2. Even if she wanted to refinance, she cant because she has bad credit.
3. If she feels entitled to my money now that Im more successful than her, shouldnt the logic be the same during the times when she made more money than me?
4. Why would I contribute to a mortgage for a house i cant live in and a car I cant use? If I had been contributing the whole time, she would have to buy me out during the divorce anyways. For the last 6 years Ive tried to convince her to sell all our assets and split the debts but she wants all the assets while having me pay half the debts.

5. I dont want profits from her home business. I just want to know if Im entitled to profits from her business that I helped her start. This way if she says that i owe her money for this and that, I can fire back and say well you owe me for this and that. I want to use it as a deterrent.
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Old 03-17-2017, 10:29 AM
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It's the matrimonial home, isn't it. So you both get half no matter who paid into it. (I'm assuming that this is at the date of separation, but who knows.) So if there is equity in the home you should get half. If it's debt, I guess you would get half as well.

How much equity was in the home when you separated?
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Old 03-17-2017, 11:17 AM
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I think there was only 10k of equity when I left. The bad economy probably sent the value down another 20k. But at 920$ monthly for 6 years, thats almost half the value of the mortgage.
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Old 03-17-2017, 11:42 AM
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Quote:
Originally Posted by Janus View Post
Usually not true. The person living in the house owes occupational rent to the other spouse. Judges usually decide that the occupational rent is roughly exactly the same amount as half of the mortgage payment.

In other words, equity would still be shared equally. She paid more for the mortgage, but she also got to use the house.
Janus is 100% correct. This is very common course of action by judges.
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Old 03-18-2017, 12:09 PM
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I think there was only 10k of equity when I left. The bad economy probably sent the value down another 20k. But at 920$ monthly for 6 years, thats almost half the value of the mortgage.
Normally... you are entitled to half the equity in the house on the day of separation. You would also be responsible for half the debt. Sell the house, pay the debts, split what's left.

Now you've waited 6 years. You can do the math with her paying mortgage and bills, you not contributing. Then figure out the cost of rent for her.

She is not entitled to any of the money you are earning now, or the new car you might go and buy tomorrow.

How did the equity in the home go from 10k to 60k? 6 years of mortgage payments at $920 month is less than 70k. It is NOT half the value of the mortgage. Do you have any idea how much of that $920 month is interest? You also have to factor in the taxes she has paid.

Do you know that she's paid the mortgage and taxes? Is the line of credit in her name only? Your first priority should be getting your name off of everything. You should have done that 6 years ago. If she has defaulted on anything you will be responsible for it.
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Old 03-18-2017, 12:40 PM
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Paris your arguing as though he has just let this situation happen. Her stated he has been trying to get this stuff done... While I don't know which area of Alberta he is in, 60k of equity could easily be the low end for the house. I purchased my home 6 years ago near Edmonton, at 250k, similar homes in the area are now selling for 325k. That's 75k in equity not factoring in payments against the mortgage.

My mortgage payment is also around that figure. So over 6 years with approx half the payment going to interest, that's approx 30k paid off, bringing the total equity to 105k.

Then if his area is like mine, in that rent is ridiculous... Houses like mine rent at about 1600-1900 per month, nothing inclusive. That would make for some very favourable occupational rent figures.
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Old 03-18-2017, 09:14 PM
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Quote:
Originally Posted by paris View Post
Normally... you are entitled to half the equity in the house on the day of separation. You would also be responsible for half the debt. Sell the house, pay the debts, split what's left.

Now you've waited 6 years. You can do the math with her paying mortgage and bills, you not contributing. Then figure out the cost of rent for her.

She is not entitled to any of the money you are earning now, or the new car you might go and buy tomorrow.

How did the equity in the home go from 10k to 60k? 6 years of mortgage payments at $920 month is less than 70k. It is NOT half the value of the mortgage. Do you have any idea how much of that $920 month is interest? You also have to factor in the taxes she has paid.

Do you know that she's paid the mortgage and taxes? Is the line of credit in her name only? Your first priority should be getting your name off of everything. You should have done that 6 years ago. If she has defaulted on anything you will be responsible for it.
920×12month is 11k. 11k × 6 years. The total mortgage including the interest was 147k. It doesnt matter if its just her name on the line of credit, she got it when we were married.
As i mentioned above, she cant re finance due to bad credit so I cant get my name off anything. She also doesnt want to sell anything. If she defaults and they come after me, Ill just file for bankruptcy instead of paying for a car and a house that i cant use
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