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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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Old 10-30-2017, 11:09 AM
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Default date of house split

We been living together 6 month after day of separation. My ex first told that he want to keep a house, so he still there and I moved. And now, after year a half it took to get process done with lawyers , he changed his mind. As my investment (down payment) still in the property I think the money should be split on the current value on market. And my lawyer is suggesting that the value of the house is considered upon the date of separation. Is has been 1,5 year since of the day of separation and the market price quite increased.
So where is the truth? Thank you
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Old 10-30-2017, 12:03 PM
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Quote:
Originally Posted by Olga View Post
We been living together 6 month after day of separation. My ex first told that he want to keep a house, so he still there and I moved. And now, after year a half it took to get process done with lawyers , he changed his mind. As my investment (down payment) still in the property I think the money should be split on the current value on market. And my lawyer is suggesting that the value of the house is considered upon the date of separation. Is has been 1,5 year since of the day of separation and the market price quite increased.
So where is the truth? Thank you


Have you continued to pay any of the mortgage? If he has been solely paying the mortgage he can argue that itís the date of separation or at least he should be repaid for your half of the mortgage if you havenít paid it. You could argue occupational rent but thatís usually a wash if heís been paying the mortgage.

Your lawyer is giving you good advice I think. Others with more experience will chime in but if you havenít been paying any of the mortgage you canít expect to receive the increase in equity. He could decide to buy you out and it would be based on date of separation


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Old 10-30-2017, 12:30 PM
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You moved out of the house. The date of separation is the date of separation. The down payment is moot as it is a joint asset. Your lawyer is right.
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Old 10-30-2017, 12:38 PM
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You moved out of the house. The date of separation is the date of separation. The down payment is moot as it is a joint asset. Your lawyer is right.


This. True.


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Old 10-30-2017, 04:33 PM
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Quote:
As my investment (down payment) still in the property I think the money should be split on the current value on market. And my lawyer is suggesting that the value of the house is considered upon the date of separation. Is has been 1,5 year since of the day of separation and the market price quite increased.
If your down-payment is in the house, are you the joint owner? If yes - you own 50% of today's value of the house.

Your lawyer is correct that the important number for separation is the value at separation; however, your asset (being 50% of the house, if you are joint owner) has increased in value, and thus you will (presumably) only sell it for its current value. If your ex will not agree then Partition Act and sale to collect 50%.

Quote:
You moved out of the house.
This does not change the joint nature of the asset. If OP owns 50% of the property, STBX has two choices: negotiate to buy out OP's 50% or have the property sold and proceeds equally split.
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date of separation, household split, property division


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