Matrimonial home

[Carnut]

We bought two years ago. Big mortgage.
She decided she wasn't happy, no counselling no nothing- walked out. She has her own place now.
The real estate market is very soft where I live, we have less than 20% equity in home on paper, forget mortgage penalties and realtor fees, I'm talking worth vs principal owed.

She seems reluctant to do ANYTHING about the house. She's gone, I have a tenant downstairs (HER relative!) and mortgage+ property taxes are around 2500 a month. Tenant pays 850.

She says she is NOT obligated to pay towards home any longer because she pays for her apartment now. I told her she is STILL legally responsible for home.

How does it work?

Rental money comes off 100%? I would have to pay rent and therefore? Is there a way to calculate what she SHOULD be paying? I have heard the real estate market should be soft between 2-5 years, and I have a strange feeling she wants ME to pay mortgage and fix house until real estate prices rise, then she will figure we split 50/50.

Is her share determined by price of house at time of separation? Or is her share determined by? Selling price regardless of date of sale? I would like to TRY to buy her out if possible, but she won't do ANYTHING the easy way. lol

She keeps coming over and just walking in too. Has her keys, has mailbox key, still her place even though she left and has her own apartment.

I've seen "exclusive possession order" etc. Is it hard to get? What does it do? I don't want to get something that has little value in the real world if all it would do is piss her off?
Any advice?

 

[HappyDays]

If you like the house, then it would be best to buy her out. If she's not paying towards it now, then she's entitled to half the equity at the time of separation.


Hire an appraiser to find out the current value. Subtract the realtor fees (6%?), any mortgage penalty for selling early, and the remaining mortgage at the time of separation. The remainder is the equity, to which she gets half. Given its only been 2 years, this should not be that much.


Exclusive possession is a harder battle, as it's usually only issued in cases of abuse. Technically you both own the home so you both have a right to be there. However since you live there now and she has her own place, you should be able to live in peace without the fear she might walk in anytime. I don't think you can stop her, but she should be giving you notice before entering.

 

[arabian]

You need to settle your equalization (property disposal) matters. Have your lawyer draft up an agreement which outlines your intentions. Include date home to be put on market or you buy her out. You can also state in the agreement that she has removed her personal property and turned over the house keys to you. Maybe she will agree to limit access to the home in the future with a 48 hrs written notice clause that she can inspect the home once a month (or whatever you deem reasonable). In the agreement name the realtor and specify the length of contract - I personally have never gone over 30 days listing a house as I believe that if it is priced correctly it will move (just my personal view). Longer you drag things out the more money everyone around you makes.