Net worth
I have 2 questions I’m trying to confirm regarding Net Worth I’m living in the Matrimonial Home and this is where I want to be. The home and mortgage was put in her name when we bought because she has a good job. She left 4.5 yrs ago and I don’t want to loose this home so I’ve been paying everything since. I have read that because she is on title the mortgage and house appraisal has to be reported in her Net worth. I on the other hand do not claim any part of the house in my Net worth. I would like to know if I understand this correctly. I was self-employed and when the health problems started I had to stop work and couldn’t finish the jobs that I had. This left me with a lot of debt. The debt is so high the ex’s lawyer wants to disallow ¾ of it. Is this a common practice in settling property division?
I'm looking at keeping the home as part of the equalization payment from the ex who will be paying me SS.
TKU
Full_Plate
I have 2 questions I’m trying to confirm regarding Net Worth I’m living in the Matrimonial Home and this is where I want to be. The home and mortgage was put in her name when we bought because she has a good job. She left 4.5 yrs ago and I don’t want to loose this home so I’ve been paying everything since. I have read that because she is on title the mortgage and house appraisal has to be reported in her Net worth. I on the other hand do not claim any part of the house in my Net worth. I would like to know if I understand this correctly. I was self-employed and when the health problems started I had to stop work and couldn’t finish the jobs that I had. This left me with a lot of debt. The debt is so high the ex’s lawyer wants to disallow ¾ of it. Is this a common practice in settling property division?
I'm looking at keeping the home as part of the equalization payment from the ex who will be paying me SS.
TKU
Full_Plate
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