Neurotoxin
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When calculating the NPV for my ex and I, since I am the sole carrier of the house mortage, do I only put the value under my section or do we split it 50/50?
Thanks in advance!
Thanks in advance!
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Net Property Value Question
- Thread starter Neurotoxin
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It doesn't really matter what is on paper, it's rather what is the reality of the situation.
You might only have your name on the mortgage and insurance, but in reality, you both owned the home, since it's the matrimonial home.
A general rule is that the matrimonial home is split 50/50. That means the asset and the liability attached to it.
You might only have your name on the mortgage and insurance, but in reality, you both owned the home, since it's the matrimonial home.
A general rule is that the matrimonial home is split 50/50. That means the asset and the liability attached to it.
Neurotoxin
New member
Ok thanks.
I just went through this exact scenario with my LLB. Because I was the only person on the deed, it goes under me - 100% of the mortgage and 100% of the value. However, even though I owned the home prior to marriage, the value of my home IS NOT included in the "assets/liabilities prior to marriage" section of the form 13.1. In the end, it is a 50/50 split of the equity, but when I had only put 50% of the value on my form, my LLB corrected it and the reason was that I was solely on the deed.
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