Ex and I are disagreeing on equitable distribution of the marital home. I want to stay in it it as we agreed, but he wants half the equity.
I don’t want to give him that’ because my mortgage will go up 500$ a month. He has over 400000 in retirement, that he could keep more of plus bought his own 600,000 with cash.
We are now going to court about it and I am wondering if there is a possibilty I could lose my house? Or how can I argue that the mortgage going up on me because I lost the equity is a problem for me, but not seem like I can’t afford it?.
have you seen cases where the person who makes only 20% of what the ex makes keep sending the home without having to pay out equity?
It sounds like there would be an unequal distribution in his favor if he keeps retirement worth $400,000+ and you keep the home unless your equity is worth more than his retirement.
You will need to balance the total distribution of the net marital assets and debts that you receive with the total distribution of the net marital assets and debts that he is to receive rather attempting to divide each individual asset. An Excel spreadsheet works very well for this.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here
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 only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.
Ok I see that it needs to be equal, but is it possible that a judge might allow a bigger share of the equity go to me in cash ( or something more immediately useable and less from the retirement that I can’t touch without penalty until I’m 57 ish? Or does he automatically get 1/2 the equity to make things equal? He’s going to fight me thay he needs the cash as well…
Each spouse receives one-half of the total marital estate assuming that one-half of the total is equitable. Sometimes an equal division is not equitable and in those instances, one spouse will receive more than a one-half share in the marital estate.
For more detailed information on unequal division and the factors used to determine an unequal division, check out our article Is the Division of Property Always Fifty-Fifty?.
You may still receive 50% of your husband’s marital portion of retirement with a 50/50 division of the equity in the marital home. This is because retirement assets are very different from equity in that retirement assets usually have not had taxes paid on them and you can’t access them as easily as you can an asset with equity.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here
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 only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.