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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 01-31-2006, 05:18 PM
FPI FPI is offline
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Default Matromonial home

My wife had the house appraised about 5 month's ago. The appraiser set a value as the date of seperation which was March 15, 2005. I'm going to a Case Conference in three weeks. Will the value of the house be that of the appraisal or what it's worth today? I been living there since she moved out.
The house is half under my father's estate, My mom will help me buy my ex out.
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Old 01-31-2006, 05:58 PM
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I believe it would be the value at separation date. And your wife's appraisal would be the back up document.
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Old 01-31-2006, 07:40 PM
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Default Use this

Use the formula and info on this page to calculate the equity in property.

http://www.hoyes.com/house.htm

Good luck
Duped
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Old 01-31-2006, 08:00 PM
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Thanks Grace, I do think it's that way also. However, what happens if it take time before you end up splitting your assests and the market Value goes up or for that matter goes down.
My wife had it appraised a few month's ago, the market seems to have gone up in my area. I just wonder if she'e going to be intitled to the increase since it still is considered the matromonial home. She moved out almost a year ago.
Maybe Jeff can answer this..
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Old 02-01-2006, 10:16 AM
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Question re: Property Division

I, the wife in this marriage bought out my previous spouse's interest in our home so it was solely mine. I lived in it from 1988 until now. My current spouse has lived in the house for 8 years now.

Is he entitled to 50%?

Is there a sliding scale or formula that is used? I tried the link you gave, Duped, but it went to a Bankruptcy site.
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Old 02-01-2006, 01:26 PM
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Missbevy,

The value of the matrimonial home is always divided equally, even if it was owned by one party at the beginning of the marriage. So yes, he is entitled to 50%.
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Old 02-01-2006, 05:25 PM
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Quote:
Originally Posted by Grace
Missbevy,

The value of the matrimonial home is always divided equally, even if it was owned by one party at the beginning of the marriage. So yes, he is entitled to 50%.
In most cases both parties are paying for the house, I think its a rare occurance that one would have owned it to start with.
In that case it's an obvious disappoint for that person I imagine to lose half the home.
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Old 02-02-2006, 10:06 AM
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Polar,

With married couples, each party is entitled to 50% of the matrimonial home, no matter if it was owned by one party at the date of separation and no matter if only one of the parties is on title. A married spouse's right to 50% of a matrimonial home cannot be taken away from him or her.

Lindsay
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Old 02-06-2006, 04:31 PM
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Lindsy, how about if half of the matromonial home is registered under my father's name. Myself and my dad purchased the home 6 years prior to my marriage. Me and my wife lived in it. Is she intitled to my dads half interest.
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Old 02-06-2006, 07:07 PM
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I'm certainly no expert but I would ,in my amateur opinion, think that your Father would be entitled to his portion and the remainder is divided amonst you and ex. I can't fathom it being any other way. I hope you don't mean that your Father was co-signer; I'm understanding that he is actually a part-owner, on title.
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