I am in the middle of an amicable divorce. I do not want my soon to be ex to have to sell the house. We are splitting the equity 50/50 but my ex will be unable to meet a home equity loan payment each month to buy me out. Ex is in school and working only part time. I want to know if we can sign a note where she pays me my half of the equity at a determined date after she is out of school. This is not co-ownership. Home is in her name but it is community property in our state.
2007-07-06 12:21:23 · 2 answers · asked by chachafour 1 in Business & Finance ➔ Personal Finance
You CAN agree to any property settlement that is acceptable to both of you. I recommend a clean break. Any financial ties that remain are likely to go bad. Perhaps she could refinance the house for enough to cover your share.
2007-07-06 14:27:52 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
if it's an amicable divorce, I'm sure there are arrangements that can be made to defer her payment to you to a later date. Check with your attorneys for the proper wording to ensure that both of you are protected and that the details are clearly spelled out in "legal-ese"
2007-07-06 19:25:42 · answer #2 · answered by Leah 4 · 0⤊ 0⤋