Due to our divorce, we sold our house for $500,000.
Original price was $450,000.
When we got the house, my wife put a deposit for $200,000.
It came from selling her house she had bought before meeting me.
We got a loan for the remainder $250,000.
Now, the question is this - Does she get her $200,000 back and I split with her only $50,000?
What is mine, in this situation?
2006-11-11 12:32:56 · 18 answers · asked by Kickster 1 in Family & Relationships ➔ Marriage & Divorce
Depends on the laws in the state in which you reside. In NYS it is 50/50 unless an inheritance is involved. Best check with an attorney to get the answers you need.
2006-11-11 12:36:00 · answer #1 · answered by Decoy Duck 6 · 0⤊ 0⤋
What would be the fair thing to do is give her the 200,000 that was hers then split the equity (Money left after paying her money back and paying off the loan). It might be more than $50,000 since you might have paid on the house for a while. What you come into a marriage with, you really should get back. Hope that helps...do the right thing! I know you will.
2006-11-11 20:38:05 · answer #2 · answered by sugarbud 3 · 0⤊ 0⤋
Not because I'm female but she should get her $200,000 back. I mean , wouldn't you feel you should get your $200,000 back if you put the deposit up? And then split the 50,000. You walking away with something and it is $25,000 in your pocket you didn't have before you married her. Be glad you got something from it. But don't be a jerk like most and try to bleed her for the money, it wasn't yours.
2006-11-11 20:39:45 · answer #3 · answered by Countrygirl 5 · 0⤊ 0⤋
I think you should split the $50,000.00, since that was the profit that was made off the house. If you looked at it the other way around and you had put the $200,000 down on the house that was yours before you were married, you would certainly think you should be entitled to your money back. That is the fair and right thing to do.
2006-11-11 20:44:41 · answer #4 · answered by kas126 1 · 0⤊ 0⤋
If she has put down that kinda cash for selling her house the only fair thing to do is she gets her 200,000 back and then you split the other monies done the middle. It may be hard for you to hear but that is her cash fair and square. Bite the bullet and don't be a prick.
2006-11-11 20:55:13 · answer #5 · answered by Livinrawguy 7 · 0⤊ 0⤋
Unless you had an agreement, it should be 50/50 (and yes, I'm female...) Think about it...who paid the mortgage every month? Depending on how long you've lived there, that adds up...and all the other bills as well. Yes, she may have put a lot of $$ down, but that doesn't mean that you haven't spent your fair share too. I say split it down the middle, and move on...
2006-11-12 01:04:29 · answer #6 · answered by Dana D 1 · 0⤊ 0⤋
I would guess that it would depend on what state you live in and what the judge rules to be fair. But if the $200,000 was hers before you got married, then she will probably have rights to that now.
2006-11-11 20:36:30 · answer #7 · answered by scorpio6 2 · 0⤊ 0⤋
she should get back the deposit before you splint the money. After that split 50/50. You don't want to take away what she had before you met that would be dirty.
2006-11-11 20:42:15 · answer #8 · answered by Nani 5 · 0⤊ 0⤋
She should get her $200,000 back, but check with your lawyer and see what the situation is. If she can prove that the money was hers she will probably get it back. Good luck.
2006-11-11 20:36:40 · answer #9 · answered by Huggles-the-wise 5 · 0⤊ 0⤋
You don't mention how long you both lived there. This is something the lawyers will fight over. You could use it as a bargaining tool for your side. Was you name ever on the deed? If it was you have her in a tight spot.
2006-11-11 20:42:37 · answer #10 · answered by physandchemteach 7 · 0⤊ 0⤋