Divorce and Equitable Distribution


#1

So you offered to pay her 50% of whatever amount there was, my suggestion is you take all major marital, debt split it in half, and subtract her half from the 50% and give her the rest.Or she gets nothing and take all the loan money and pay off all the marital debt. but whatever you do get reciept off all payoffs and reciepts off all money you give to her.


#2

That’s what my husband did. He sold off everything they had in both their names, camper, boat, her business for whatever amount was left owed. I’ve heard of people doing this before but never seen it done until then. He did not make a profit on anything so there was nothing to split. The only thing that would have been was an amount left in their account from a loan in both their names which he closed. Put the money in his account and used it to pay realator fees and closing cost when he sold the house. He had her name taken off the deed to the property. The only thing left was her name still on the mortgage which was of course taken care of when the house sold.
She doesn’t just get 1/2 the assets, she also gets 1/2 the debt.


#3

Dear agbeli:

Greetings. YES - there is something you should worry about!!! Do not file for divorce without dealing with the issues of equitable distribution and/or alimony if that is an issue. Dividing up the house must be dealt with by separation agreement or the court prior to obtaining a divorce, or you lose the right to equitable distribution. Thank you.

Janet L. Fritts
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

301 McCullough Drive Suite 510
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#4

JanetFritts:
The loan is in my name, I have been paying for the mortgage for over a year. I am still living in the house and have been paying child support all this while. Why should I be worried, I do not understand you. I have given her offer twice with no response. Why should I have to suffer for her inability to come to a conclusion on this.


#5

Dear agbeli:

Is the house solely titled in your name also? Be sure this is the case, as refinances and other incidents in life can have a house jointly titled. Thank you.

Janet L. Fritts
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

301 McCullough Drive Suite 510
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#6

My wife and I have been separated for a year or more. She had been hanging out with Lesbian friends. She decided we should separate, I was out of the country when she moved out. When I returned, I drafted a separation agreement, which she refused to sign because the debts she left me were so much, that she had to pay me some money, even after giving her some equity in out house.
I did consult Lee Rosen and he advised me to give her some money and get her name of the deed before I divorce. I have been paying child support, health care, clothes for my 5 year daughter. I do have verbal agreement to visitation rights and see my daughter often.
My question… I have applied for a home equity loan. The bank use 90% of the appraised value to determine how much I can give her. I have offered to give her 50% of the loan though she does owe me some money, which I do not want to pursue…She has not responded to my offer. I want to file for divorce (do-it-myself), is there anything I should worry about. I want to take her name off the deed, as I have been living in the house for over a year and had been paying the mortgage by myself.