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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 10-01-2014, 10:04 AM
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I've been on and off this site for almost 10 years now and still have to settle my case. Throught-out this time my ex and i have tried to work it out but unfortuntley never succeeded. We at no time have lived together within these 10 years.
My question is if we have not settled anything as of now, is the equalization based on the date of 10 years ago or now. The matromonial home was owned by my father and I. My ex was never on title. Most recently I probated the will since my dad passed away. His interest in the home went to my mom. she is now co-owner.
This was all discussed with out lawyers at the time. They were fully aware that I only owned 50% of the matromonial home.
I would like to know do I pay her on what the home was valued 10 years ago or what it is valued now. Agian she has never lived there since she walked out of the marriage.

Also if i was paying my father rent for living in the home, even though I owned 50% does it still becme the matromonial home?
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Old 10-01-2014, 10:06 AM
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Get thee to a financial advisor and/or a lawyer, stat.
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Old 10-01-2014, 10:13 AM
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In your case, valuation is as of the date of separation, as she is not a registered owner.

Yes, it is considered a matrimonial home.

What would be up discussion is, is she entitled to 25% (1/2 of your 50%) or to a 50% value (1/2 of the 100%). That would tie into whether your parents lived in the house with you, or was there a trust agreement between you and your parents to hold the house as tenants in common, etc. More information would be needed.
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Old 10-01-2014, 10:21 AM
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It ws agreed that she was entitled to 25% of my 50% ownership less the mortgage. The only issue is if she goes and proceeds with divorce action do i pay her the value of the home 10 years ago or todays value. the home has doubled in value over the last ten years.
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Old 10-01-2014, 10:35 AM
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Quote:
Originally Posted by OB1 View Post
It ws agreed that she was entitled to 25% of my 50% ownership less the mortgage. The only issue is if she goes and proceeds with divorce action do i pay her the value of the home 10 years ago or todays value. the home has doubled in value over the last ten years.
Valuation should be as of the date of separation.
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Old 10-01-2014, 10:37 AM
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There must be a back-story to this, as I can't understand why a settlement couldn't have happened during the last 10 years, if it sounds like the wife immediately changed her mind about being married, and has never lived in the house.

What kind of issues have dragged on for 10 years?
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Old 10-01-2014, 11:25 AM
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Call me stupid, I tried to work it out with my ex. Thought there was a chance. Yes, 10 years. I am 53 now and still standing at the same place as 10 years ago.
I honestly thought as we got older we can get past our difficult times. I guess it couldn't be. Now i find myslef worrying about the next move. I know once she starts the proceeding stress will take over and thats the part a fear worst.
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Old 10-02-2014, 08:49 AM
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Quote:
Originally Posted by dad2bandm View Post
Valuation should be as of the date of separation.
Yes. And then you will owe her interest to compensate her for the 10 year delay in receiving the money. Somewhere between 1.5 and 2 times the separation date value. That range corresponds to 4% - 7% per annum.
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