I think this is a fairly common question but haven't found the exact situation to compare it to.
If one spouse leaves the family home and the one staying takes over payment of the mortgage and associated bills (utilities). If we agree that the one leaving will not get an "equalization payment" until one year has passed. Should the one leaving be entitled to half the equity in one year or the equity at time of legal separation?
If it is calculated as the value after one year we would of course take into consideration money contributed by the staying spouse for mortgage payments and general upkeep to maintain the same state of repair.
The amount regardless would have to take into consideration outstanding debt at time of seperation (being carried by the one leaving) but should interest on that debt be taken into consideration because there will not be an equalization payment for one year.
Thankyou in advance for your time and consideration.
If one spouse leaves the family home and the one staying takes over payment of the mortgage and associated bills (utilities). If we agree that the one leaving will not get an "equalization payment" until one year has passed. Should the one leaving be entitled to half the equity in one year or the equity at time of legal separation?
If it is calculated as the value after one year we would of course take into consideration money contributed by the staying spouse for mortgage payments and general upkeep to maintain the same state of repair.
The amount regardless would have to take into consideration outstanding debt at time of seperation (being carried by the one leaving) but should interest on that debt be taken into consideration because there will not be an equalization payment for one year.
Thankyou in advance for your time and consideration.
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