QUESTION
How should my husband and I divide our house if we are divorcing for the second time?
Asked on Sep 05th, 2013 on Divorce - California
More details to this question:
Spouse and I divorced 14 years ago. He received cash payment for his 50% of house equity. We remarried again 9 years ago and once again, are approaching divorce. He again wants 50% of current house equity but since he got 50% last time and the equity has risen and fallen over the ensuing years, can I deduct the 50% he received the 1st time around from the second valuation of equity? (thinking I can because my 50% remained with the house- his did not). And when we remarried he never applied that money back towards the house.
5 ANSWERS
Divorce & Family Law Attorney serving Salt Lake City, UT
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Utah Family Law LC
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Your argument for not re-dividing the home equity makes sense, but to be honest, the court could go either way on this issue. I'd bet on you, but it's impossible to guarantee you'd be the winner of this argument.
Answered on Sep 09th, 2013 at 8:09 AM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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It's all a question of fairness. However if you paid him out last time, you can argue that the house is not marital property this time around, e.g. you should be able to say its separate property. Then he gets no part of it. Worse case I would deduct the equity in the house he already took and did not reimburse plus interest at the mortgage interest rate on the house if any. Regardless those are decisions for the judge/mediator/arbitrator since most contested divorce judgments are mediated or arbitrated and not tried.
Answered on Sep 06th, 2013 at 4:38 AM
If I were your lawyer, based upon the information you provided in your email, I would agree with your assessment. However, you need to talk with an attorney in your jurisdiction regarding how this is generally perceived in your area and to discuss any other contributions your husband may have made to the marriage.
Answered on Sep 05th, 2013 at 2:51 PM
Family Law Attorney serving Thousand Oaks, CA
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Law Office of Terry A. Buchanan
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At the time of your second marriage, the home was your separate property. During your second marriage, did you transfer title into both parties' names? During your second marriage, if title was not transferred back to both parties, then the community would have an interest in only a percentage of the equity as of this date - not 50%. The answer to your question is more extensive than just provided and especially for this forum. A consultation with an attorney would be extremely beneficial for you so that you can provide additional facts required to effectively answer your question in its entirety.
Answered on Sep 05th, 2013 at 2:51 PM
That sounds reasonable. You may want a financial to do the math for you because of the pay down of the mortgage that happened while you were divorced the first time.
Answered on Sep 05th, 2013 at 2:50 PM