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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 08-01-2012, 11:49 PM
Full_Plate Full_Plate is offline
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Default Net Worth Question #2

I'm posting question 2 new thread from the first post.

Re; Matrimonal Home. When we bought this home it was easier for my ex to get a mortgage so only she is named on the deed. I understand only the spouse named on the deed and mortgage has that info in their NW. The nonregistered spouse still has an investment in this home.

Copied and pasted from info blog
The ownership of the matrimonial home is relevant to the division of property. For example, if it is owned by one party the then it is valued at the date of separation and accounted for by the owner in his or her “column” of the value of his or her net family property. but the non-titled spouse still has the right to live in the home by agreement (possession) or court order (exclusive possession).

The answer to the myth is therefore, no. The matrimonial home is not deemed to be jointly owned. An owner accounts for the full value of the home for property division purposes, but each party has an equal right to reside in the home.

This is why I do not want to add any of the house to my net worth. I said I what the house in the settlement because it makes an easy way to do the division of the property. I think!

I have added info for the blog where I found this info.

Posted by Kim S. Kieller on December 16, 2011
Myth – The matrimonial home is deemed to be jointly owned even if only one spouse owns the property.
True or False? – False
This is the link to the blog where I found this. Look for Family Law Myths.
Property : Matrimonial Matters

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