Value of House

North Carolina Divorce Law Divorce and Separation Answers
1

I found out about another affair my wife had with her boss in August of 2011. The affair had been going on for a couple of years. She refused to stop the affair and I finally filed for “Divorce from Bed and Board” in early 2012. Living with a cheating spouse is difficult :slight_smile: Anyways, Once she was served the suit she promptly moved out in early Feb of 2012. I dropped the suit at the end of the summer since she was out of the house. In march of 2012 I had our house appraised as part of the refi process. The house appraised at 360k. At the time, I did not refi but just now started the process again. To my surprise, the latest appraisal came back at 400k.

My question is what appraisal should be used for the equitable distribution calculation (360 or 400)? I have also contacted a real estate agent and he said he thought 380k would be a good listing price for the house.

To date, we do not have a signed SAPS. We have gone through many iterations and complications since separation and can’t agree on the terms.

Also, I’ve paid about 10k on principal since she moved out. Would she be entitled to any of the principal I’ve paid since she left?

Thank You

2

You should value the house as of the date of distribution unless your active work increased the value. She should not get credit for your reduction of the mortgage balance.

3

Thank you. I’ve read several post and most of the time “date of separation” is used vs “date of distribution”. “Date of distribution” makes more sense and is fair.

We can now just argue over the current value of the house :slight_smile:

Thank You