Just starting the separation process

1

A little background first!

Moved in together Oct of 2013. Purchased a home (in his name due to financials only) in March of 2014. Lived in the home together from the start. Married July 2014. I am now asking for a divorce.

Home is valued at $272300.00 Current Mortgage balance of 147000.00. Original purchase amount of 175000.00 (plus fees, interest etc.) Monthly payments of 1235.00

We are going to separate our belongings in the home as I move out in the coming weeks. We have agreed on that much.

I have no retirement / stocks or bonds. I am an independent insurance agent with a small book of business as I am just in my first real year.

I want this to be peaceful but he is very much about MONEY.

He has 401k of 10K (we have taken money out to do home repairs and remodel)
He has a pension with a balance of 88000 (if he were to leave his job today) Not sure if that is the right way to calculate that.

I have asked for HALF of the 7 years of payments made on the home… totaling roughly 50,000.00 and nothing more. (Did not do this in writing yet)

I have found that he is talking with outside forces wanting me to get NOTHING from our home because he bought it months before we were married (mind you we have been here together since MOVE in day)

NO children! We both have a vehicle and a motorcycle. TONS of other possessions that I am not wanting to take from him. To include a boat, a trailer, another trailer, a new riding mower (bought 2 months ago) the list goes on and on.

I know I am being quite fair but I am a little worried about the correct process to take. I absolutely told him, if we don’t work this out, I will hire a lawyer and go for what the courts deem fair (I feel this will be much more)

Before I draw up a separation agreement, I want to be sure I do not do detriment to my standings.

2

The house is both separate property and marital property. The house is your husband’s separate property because he purchased it prior to the date of marriage in his name only and presumably with no contribution of a down payment from you. It does not matter that the two of you lived in the home together from the beginning.

The house is also marital property insofar as the reduction of the mortgage and subsequent increase in equity. You are entitled to one-half of the principal reduction in the mortgage from the date of marriage to the date of separation. This is because marital funds (funds earned during the marriage) were used to pay down the principal balance of the mortgage which actively increased the equity.

You are also entitled to one-half of his retirement and pension that was accumulated during the marriage.

Depending on income, you may or may not be entitled to postseparation support and alimony.

As you begin your separation process, you may find our Divorce Legal Webinar to be very helpful. This is presented live periodically throughout the month and is free to attend. You will learn lots of valuable information about equitable distribution, postseparation support, alimony, and absolute divorce (child custody and child support are also covered).

You can also take a look at our Sample Separation Agreement as you begin this process.

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.

3

Thank you for the response. One final question… If I am willing to let go of any claim on the retirement and pension and spousal support… and simply ask for my portion of the homes payments… is this unrealistic? I am not wanting to “take him to the bank” I just want a portion of my contributions and for this to end as easily as possible.

4

No, that is no unrealistic, but you would need to consider what you might be giving up in terms of retirement and alimony that you may otherwise be entitled by law to have.

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.

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