Math on division of property


#1

My wife and I have been together for 5 years, married for 3.6. She owned the home prior to our meeting.
I was put on the deed during a refi about 1.5 years ago. The house is now on the market and she is set at a price that after all closing cost will net her about 302k… she paid 275k 6 years ago and has made approx. 12k in improvements. the mortgage is only 116k plus an equity line, that we both signed for, with a $3500 balance.

She has offered in her seperation agreement that continues to pay my health insurance, $430 montly,for one year. And my auto insurance thru August of 2011, approx $1000. As well as sign over the car that is in both our names to me.
There are no children involved and frankly I am hoping for reconsiliation.
Unfortunately I have had low income for most of our relationship and she is useing that as a reason for seperation / divorce.

My question is if she sells the home is the split calculated on the profit of the sale via purchase price or balance owed.

I am not seeking to rock the boat and by all appearance this seems to be a good deal, as good as this thing can be, if the numbers are based on purchase v/s profit over mortgage v/s profit.

Thank you,
Praying for…


#2

I cannot advise you on whether or not the deal she is offering is a good one without an entire evaluation of the case. I can however say that your name being on the deed creates a presumption that she gifted the home to the marriage, which would entitle you to one half of the proceeds received upon sale.