Posted on: 16th Jul, 2008 11:39 am
I have been married for 2 yrs, 10 months. My house was my separate property for 10 years prior to the marriage. He has been on title for 2 yrs, 10 days.
So he wants his cut of the house. The value on the house at the time he went on the deed was 685k. We took out a HELOC and built on to the house, however, the contractor abandon the project and there is over 100k worth of damage to the house.
I had the house re-appraised in June 08 and it appraised for 635K.
Also, I have been making payments on the house with separate property funds (Disability) since may 06.
I am re-financing to assume all financial liability for the house and combine all community debt. I can not afford an attorney, so I am doing this on my own. Can someone please help me to calculate what his interest in my house would be?
Total marriage time: 2 yrs, 10 mo
Total time on title: 2 yrs, 10 days
Value in 12/05 685k
Value 6/08 635k
Thanks for your help
So he wants his cut of the house. The value on the house at the time he went on the deed was 685k. We took out a HELOC and built on to the house, however, the contractor abandon the project and there is over 100k worth of damage to the house.
I had the house re-appraised in June 08 and it appraised for 635K.
Also, I have been making payments on the house with separate property funds (Disability) since may 06.
I am re-financing to assume all financial liability for the house and combine all community debt. I can not afford an attorney, so I am doing this on my own. Can someone please help me to calculate what his interest in my house would be?
Total marriage time: 2 yrs, 10 mo
Total time on title: 2 yrs, 10 days
Value in 12/05 685k
Value 6/08 635k
Thanks for your help
Hi levictoria.
Welcome to the forum.
To calculate the percentage of the community property entitled to your spouse, you can use the formula which is listed at http://www.mortgagefit.com/know-how/mooremarsdenrule.html
Best of luck,
Larry
Welcome to the forum.
To calculate the percentage of the community property entitled to your spouse, you can use the formula which is listed at http://www.mortgagefit.com/know-how/mooremarsdenrule.html
Best of luck,
Larry
get an attorney!!