House as spousal support

[Tessanew]

What is the name of your state (only U.S. law)? Ohio

My previous thread was closed, but I wanted to continue on about the house in question. As spousal support, my husband has offered to pay off the mortgage on our house, deed it to me, then it is mine to do with as I please ( sell, stay, etc)

Our mortgage is $570 a month. We owe 9 years. He thinks this is fair as spousal support. I believe it should be higher. Also, if I accept this as spousal support, have the home in the end, he says I cannot have 1/2 of his retirement.

He makes 100,000 a year. We've been married 19 years, 13 of which I stayed home to raise our kids. We owe $38,000 on the home. It was appraised at $104,000. However, with the real estate market in this area, estiimated value is $87,000.

I think this way off and an insult. While its nice to know that i will have a roof over my head, I just feel the number is too low.

 

[LdiJ]

What is the name of your state (only U.S. law)? Ohio

My previous thread was closed, but I wanted to continue on about the house in question. As spousal support, my husband has offered to pay off the mortgage on our house, deed it to me, then it is mine to do with as I please ( sell, stay, etc)

Our mortgage is $570 a month. We owe 9 years. He thinks this is fair as spousal support. I believe it should be higher. Also, if I accept this as spousal support, have the home in the end, he says I cannot have 1/2 of his retirement.

He makes 100,000 a year. We've been married 19 years, 13 of which I stayed home to raise our kids. We owe $38,000 on the home. It was appraised at $104,000. However, with the real estate market in this area, estiimated value is $87,000.

I think this way off and an insult. While its nice to know that i will have a roof over my head, I just feel the number is too low.

I will give you the same advice I gave you previously. You need an attorney.

However, saying that you get the house instead of 1/2 of his retirement makes it a property settlement, NOT spousal support. Which is critical from a tax perspective.

 

[TinkerBelleLuvr]

I'm with Ldij on this one. Reading your post on the whole "pay off the house" is NOT alimony. You are entitled to half the marital assets and half the marital debt. Oh - and that includes the pension/ 401ks/ IRAs, etc.

You NEED an attorney. Secondly, when you think you've got a settlement, run it past a tax accountant to make sure that something going as "alimony" really is alimony. It's very apparent that neither of you understand what is and isn't alimony.

 

[Tessanew]

Thank you both for the reply. I DO have an appointment with an attorney on Wednesday. I only asked here to get a general idea of whether this is or isnt a fair deal. I see now it isnt. It gives me something to go on when I meet next week.

I have a general idea of alimony and the husband feels he's being "nice" by giving me the home. Actually, "he's being nice and I should be grateful". Sigh

Its mind boggling. Im truly afraid I wont be able to care for my children.

 

[Ohiogal]

Thank you both for the reply. I DO have an appointment with an attorney on Wednesday. I only asked here to get a general idea of whether this is or isnt a fair deal. I see now it isnt. It gives me something to go on when I meet next week.

I have a general idea of alimony and the husband feels he's being "nice" by giving me the home. Actually, "he's being nice and I should be grateful". Sigh

Its mind boggling. Im truly afraid I wont be able to care for my children.

Then, quite frankly, you need to work more than 20 hours a week. You need to be able to provide for the children WITHOUT depending on alimony OR spousal support. You also need to be able to refinance the house -- if you keep it -- into your name alone in order to make sure that HE is not held liable for it.

 

[Tessanew]

Thank you again, OhioGal. I currently have resumes out.