I found this information about the distribution of property during a divorce for my state....
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"equitable distribution" state. ... the Circuit Court will take the following approach to dividing the assets; It will distribute the marital assets between the two parties in an equitable fashion. Equitable does not mean equal, but rather what is deemed by the Circuit Court to be fair.
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There is no doubt that my husband was the one to generate the income to pay our morgage. (He makes 4Xs what I make) The monthly payment alone is more then my entire income for a single month!
Does this mean I walking away with very little (or none) of the equity in our home? We have been married and lived in this house for almost 5 yrs.
We don't have kids.
2007-11-19 11:19:15 · 4 answers · asked by starrzfan 4 in Politics & Government ➔ Law & Ethics
No that is not what it means. Equitable means that they will take everything into consideration down to raising the kids and cleaning the house. You may end up with more than half since he does make so much more than you. At least I have seen that done in Illinois.Also after five years you really can not have that much equity built up. They will make you sell the home then pay off your mortgage and then do the split. To the best of my knowledge no judge will put a woman out on the street just because the husband makes more. Make sure you have representation though and I would get the slick divorce attorney I could find.
2007-11-19 11:29:01 · answer #1 · answered by debbie f 5 · 1⤊ 0⤋
I am sorry, this is not an answer but another question, related to the question being asked:
What if the wife didn't have a property at all before they got married? Now they have a child. The wife is a full time mom. What happens if they divorce? Hmn...
2007-11-19 19:36:34 · answer #2 · answered by ♥angelfire♥ 4 · 0⤊ 1⤋
doesn't matter. most parties end up walking away with their own property. i don't think i've had a case where the court actually had to divide the assets. what does your attorney say?
2007-11-19 19:27:44 · answer #3 · answered by Anonymous · 1⤊ 0⤋
No, it does not say apportioned, it say equatable. This allows the court to give the house to a custodial parent. This is obviously not equal, however it is equatable.
2007-11-19 19:24:32 · answer #4 · answered by davidmi711 7 · 0⤊ 0⤋