Help.. tricky financial situation

Mackowitz · 2021-03-18T05:51:11+00:00

My brother bought his house before he got married, wife was never on the mortgage. When he divorced, she got one half the equity increase from the time they got married. Not real numbers, but something like he bought the house for $500k, when they divorced it was worth $600k, so she got $50k (1/2 the equity increase) and he kept his house. They were married like 2 years.

The good news for him was ex-wife thought she would get half the total value of the house, but that was not the case. This was a very bitter divorce with many many thousands of dollars spent on lawyers.

sc1617 · 2021-03-18T05:35:04+00:00

You've only been married for 3 years and the house is in your wife's name since before you got married. You're probably out of luck. If it was the other way around would you give your wife the same?

sexytimeinseattle · 2021-03-18T06:55:50+00:00

Is it possible to go forward without a lawyer?

Possible, yes, but it requires both sides to be reasonable. Divorce does nothing but make reasonableness very hard to achieve.

Has anyone seen or went through a similar situation?

Very common. One spouse isn't getting what they think they deserve, the other side won't budge. That's exactly why there are divorce lawyers, to tell you both what the laws regarding division of assets should be.

Snakealicious · 2021-03-18T09:14:58+00:00

You’d get one half of the increase in equity tolling from the day you were married. At least a lawyer would get you that.

capn_KC · 2021-03-18T11:51:01+00:00

Sorry your relationship didn’t work out.

kevman6 · 2021-03-18T20:29:43+00:00

I would talk to a lawyer. Sounds like you have been living in the house since she bought it even though you weren’t married yet. Depending on the state, the time before your marriage may count also.

Boring_Cancel · 2021-03-18T20:56:03+00:00

How long did the two of you live in the house together prior to your marriage and what state do you live in? If bought when married using funds (down payment from bank account you both contribute to) then you have as much a legal right to the house as her. If she bought it prior to marriage. You would have to give up equity in term of down payment she made and any principle on the mortgage that was paid off prior to marriage. After that your entitled to a 50/50 split of the rest of the equity. Her name being the only one on the deed doesn’t mean you get nothing. Also until you are legally divorced or a judge orders otherwise you have to be given every right you had prior to divorce proceedings. She can’t kick you out. She can’t change locks. Etc.

rippinross · 2021-03-19T13:15:44+00:00

Hey Bud,

I am going through the EXACT situation as we speak. I have been fighting this for about a year and half. To be honest, I have spent 7k and gotten nowhere. but this might be my situation and situations can vary..... My wife dug her heels in and refused to accept any reasonable settlement offer I send her. The equity in the house exploded, and on paper im owed 50% of that which is around 80k. but.. the maddening process of divorce and uncooperative opposite parties is having me lean towards just taking 30k (that she offered) just to get the hell out and move on with my life and start the process of being happy again!

There is a calculation that is called the Moore-Marsden. Moore-Marsden Calculation Explained

Please feel free to message me if you want to talk, I understand what you are going through and its definitely not fair.

Ross.

jeremeyp · 2021-03-18T11:43:26+00:00

How the house is handled depends on what state you see in. The house started as non-marital property. Depending on your state's laws, it may have changed into marital property. If it didn't change into marital property, some states have a thing called special equity, where the law recognizes your contributions that increased the equity in the home. At minimum, you should have a consultation with an attorney to see how your state handles these situations. This is not all that uncommon and any divorce attorney in your state should be able to give you guidance.

BlackFire68 · 2021-03-18T13:38:32+00:00

You are entitled to half the increase in equity... that is, half of (sale price less closing costs minus approximate equity on date of marriage) divided by two. Or, the other party can buy out the first (today’s appraisal minus approximate equity on marriage) divided by two.

Your labor, sadly, means very little in the equation.

P.S. she will say the house isn’t worth as much, you’ll overestimate it’s worth based on your sweat... your assertion that lawyers need to be involved may be accurate. You certainly need a bank letter and assessment from the year of marriage and a current appraisal to judge the increase.

Title	Help.. tricky financial situation
Author	abcdefg161616
Upvotes	12
Comments	11
Date	March 18, 2021 4:58 AM UTC (5 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/m7jilv/help_tricky_financial_situation/
Archive Link	https://theredarchive.com/r/Divorce_Men/help-tricky-financial-situation.1190911 https://theredarchive.com/post/1190911

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