Divorce means selling the house??

Question

My hubby of 6 yrs and i are divorcing.Not a good relationship we stayed together for finiancial reasons.He cheated on me and i cheated on him in retalation. He has already taken more than half of our material things.The paper work for the divorce has not even been filed out yet.What are the chances that hubby gets his wish and we have to sell the house we bought together?

He has 2 kids by an ex.wife one of which was a result of an affair.I have a son 3 yrs old(not hubby's) and a daughter 5 yrs old.

paternity test is going to have to be done for my daughter because of a long standing affair i had.

Answer 1

If you live in the U.S...

If the home was purchased during the marriage using martial funds (and most are) then it’s martial property, no matter who’s name is/isn’t on the deed, and each person is entitled to 50% of the equity. Generally, the judge will award the home to the person receiving custody of the children, IF they can afford to pay the spouse their part of the equity AND can afford the home (ie the monthly mortgage payments). If hubby is smart he will request that the judge require you to refinance the home in your name alone. If you can’t afford to pay hubby his half/maintain the monthly mortgage payments/obtain refinancing in your name, the judge will order the home sold and the proceeds split.

If hubby has already taken more than half of the things from the home, the judge will take that into consideration. But, don’t expect to be reimbursed a huge amount. For example, if you bought new furniture 5 years ago for $4,000 and hubby has taken that, you probably won’t get $2,000, because the value NOW is not $4,000 (now it’s been used for 5 years). What you will receive will likely be based on the value NOW (and most things, with the exception of houses, depreciate quickly). So a better option might be to request that hubby be required to return X, X, and X.

Answer 2

First off, my heart goes out to you (and anyone) going through divorce. My marriage ended in divorce 2 years ago, and yes, it still hurts some days.

That being said, "the house" is always a touchy issue. My ex got to keep it, mostly because our kids were established in the school across the street already. You didn't state if you had children.

The simple fact is that is a house is nothing more - a house. So many people attach too much sentiment to their home that it becomes a real flashpoint of contention during divorce.

I'm going to assume that you had 2 incomes while being married. So that also raises the question: Can either of you really afford this house on your own? If the answer is NO then you have answered your own question.

Don't make the other person suffer (either of you) financially just because you want something that you could (eventually) replace. If you didn't build it yourself, with your own 2 hands, then just be rid of it - the both of you.

Love and hurt aside, divorce is probably the worst financial decision the 2 of you can make. Is it for the best? Maybe. For your sanity? Most definitely. But it will lead you into financial strain for the better part of your adult life. And the quicker you get out from under the most debt possible, the better off you (and your peace of mind) will be.

I wish you the best in your troubled times

Answer 3

You didn't say if there are children involved and you didn't mention which state you're in, you didn't say if you're a stay-at-home mom or a well established professional - and all of these things will be taken into account. If you have kids together and you live in California the law is pretty much on your side. No matter where you're living, if there are no children I would suggest selling the house and starting over someplace new. Take the money and put the past completely behind you so you can start a wonderful new life without your ex. Freedom and peace are definitely more important than possessions.

I also hope you have an excellent attorney and a great support system of family and friends who will always be there for you.

Answer 4

If you are in a community taxing state (like Texas), then the house will have to be split in two if purchased during the marriage. Whoever keeps the house needs to "pay" the other spouse the equity out of it. Sometimes, it's thru a forced sale. With my divorce, I estimated the assets that he & I both had and did some real estate valuations and came up with an ideal way to split the assets. He turned over his 401K in my name and paid me for 3 yrs an equal amount each month. He kept the house.
Find a good lawyer and figure out a fair settlement. If you have actual documentation of his "theft", then you can present that to the judge and your hubby's butt will be fried. Document EVERYTHING, papers, talks, visits, ALL. And present that to your lawyer to present that to the judge. You may end up getting the house outright, but make sure with the mortgage company that your future EX has not jiggled with the title of the house, thereby taking it from you legally.

Be smart. Don't be sorry.

032907 8:14

Answer 5

if you both own the home and you shared the expense's then you will either sell and receive a 50/50 split or each can buy the other out. Also depending on whats in the divorce papers property wise he cannot remove anything that has not been agreed upon in said papers. He can be braking the law and he might think you will back off. You should have an attorney to talk to...

Answer 6

I really do know what the chances are in this one hon. Do you have a lawyer to help you with things yet? Are both of your namees on the deed of the house or is it only his own name. If he can sell it you should be able to get half of what he sells the house for. You need an attorney now before he continues to keep on doing what he is doing. You need to try and stop him from taking it all and leaving you with absolutley nothing. Since you bought the house together i feel you are entitled to half the house and you should have some say in what happens with the house just as much as he does. Stand up for your rights and do not back down.

Answer 7

If you have an attorney I suggest you speak with him about your soon to be ex removing community property out of the home. If you bought the home together he would be entitled to 1/2 of the equity. Which means, you would either sell the home and split the capital gains, or take a loan out on the home to pay him off the suggested equity. If you cannot afford to keep the home, then sell it, and walk away with a clean record. It is unfortunate it has ended this way. Look at your finances, and make the decision. Put everything in writing and get it notarized. Check for a free legal resource in your community. There generally is one ... perhaps they can walk you through the legalities. Good luck

Answer 8

You do not haver to sell the house if you are financially able to pay his half of the house as in getting a second mortgage you can easily buy him out. Of course he would have to agree to this in the first place, but I know many people who have done this including my own parents.

Answer 9

if u guys do sell the house, he will have to give u half the worth
cuz ui bought it together
but i say take some other things be4 the divorce is filed
and put it into a bank account vault that only u know of(get a new bank account)
and transfer any more money u make to ur own bank account
or else u will have top split the money u make with him

Answer 10

If you have any children's it might work in your favor. you didn't say if you could afford the house without him. an also will you be getting any child-support or spouse support. If your are not behind in mortgage payments. I don't see why you would have to sale. But when you do sell you must split the profits with your ex.