Property disturbution


#1

Dear Tony:

Greetings. First, was the money your income which you earned during the marriage and placed into savings or was the money from before the marriage. If the money for the house was from your income during the marriage, your wife is entitled to half of the equity. My suggestion is that if you are going to separate soon, do it now, and get the appraisal now before the house is finished and you keep paying on it. Even if you do separate, you don’t have to sell the house for her to get her equity. Best of luck!

Janet L. Fritts
Attorney at Law
4101 Lake Boone Trail, Suite 200
Raleigh, North Carolina 27607
NCDivorce.com
919-787-6668

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.


#2

My wife and I are seeking a divorce and can not come to terms on the house. My situation is that we are living at my Father’s house while the house is being built. I bought the lot and paid for it with my money and the lot is paid in full. The house is just now being framed and has about nine months to completion. I have also paid for everything (Architect, Construction loan, etc.) and she has not contributed anything. She is now saying that the house will need to be appraised once it is finished and I should take the appraisel and give her half the profit of the house. I have no intentions on selling it. Do I have anything to go on before this gets any worse.

Thanks,
Tony