Do I have a right to the Equity

[shellie70]

What is the name of your state? FL

Hi, My husband bought a house in 1995 before we met. When we married in November 2000, I never pushed to have my name put on the deed of the house since I never thought my marriage would end. Now it seems that we cannot work out our problems and I'm wondering if I have any claim to the equity in the house. We have a joint back account that both our checks get put in and the bills all get paid out of that, so I have paid at least 1/2 the mortgage every month since I moved in the house in July of 99. We have taken out a line of credit in both our names that would need to go back into the house when we divorced, but that would still leave about $150,000 in equity. Do I have a right to 1/2 that amount or am I screwed because my name isn't on the house. Honestly that is the only reason I have stayed this long because I cannot afford to leave with my 4 year old and start up in a new place. I can afford once I'm there, but need the start up money.

Thanks for any insight you can give me.

 

[seniorjudge]

If you can prove in your lawsuit that you paid for half the land, you may have some claim to it.

 

[Ohiogal]

SJ! Not quite true from my understanding. She is entitled to half the equity that accrued during the marriage if it was paid for with marital income.

 

[shellie70]

Neither of us own the actual land so that wouldn't mean anything.

 

[shellie70]

OhioGirl - that's what I was trying to figure out. Since I have paid 1/2 the mortgage for more years than he actually owned the house, I needed to know if I have a claim to 1/2 the equity. Even if it's since we married, that's the last 7 years which would probably amount to $100,000 total which is $50,000 split. Is there somewhere I can find out for sure without paying a lawyer to talk about it?

 

[seniorjudge]

Neither of us own the actual land so that wouldn't mean anything.

Is this a mobile home you are talking about?

 

[seniorjudge]

SJ! Not quite true from my understanding. She is entitled to half the equity that accrued during the marriage if it was paid for with marital income.

First of all, I think this must be a trailer since they don't own the land (according to OP).

Thus, we'd have to know exactly how it is titled (trailers generally don't have deeds but they do have titles).

Then we would have to know exactly how much our gal paid on this thing.

 

[seniorjudge]

...
Is there somewhere I can find out for sure without paying a lawyer to talk about it?
....

You could have ten lawyers all give you the same opinion but if the court rules the other way, then that is what you are stuck with.

 

[shellie70]

No it is not a mobile home and I misunderstood the statement about land ownership. We pay property taxes so I guess the land is ours. It's a 3 bedroom house that the deed and mortgage is only in his name, since it was his before we got married, but we have both paid the mortgage since before we got married and we also have a line of credit off the equity in the house that is in both our names.

 

[Ohiogal]

No it is not a mobile home and I misunderstood the statement about land ownership. We pay property taxes so I guess the land is ours. It's a 3 bedroom house that the deed and mortgage is only in his name, since it was his before we got married, but we have both paid the mortgage since before we got married and we also have a line of credit off the equity in the house that is in both our names.

The judge is correct. YOu would be entitled to a portion of that equity which accrued during the marriage and was paid by marital income.

 

[moburkes]

How can you have paid for 1/2 the mortgage for longer than he's owned the home, if he's owned the home since he's owned it for about 12 years, yet you've been paying 1/2 the mortgage for almost 7?

You are not entitled to any equity that accrued before you got married, even if you were living there.

Since I have paid 1/2 the mortgage for more years than he actually owned the house,

 

[shellie70]

Sorry what I meant was that I have been paying it longer than just he was paying it. So they will only count how long we were married so what the equity was in November 2000 until whenever we divorce? I appreciate all your help and sorry that I didn't state what I really meant.

 

[nextwife]

WHY should you be entitled to half of what he BROUGHT INTO the marriage? The premarital portion is his, acquired by him.

 

[climerz1]

from what I understand you will have to file divorce prosedings and the marital assets will be divided by courts according to laws in your area where filed it is always advisable to use an attorny to file proper papers to protect your property otherwise your husband could refinance and take all the equity before the settlment and you would be sol

 

[Silverplum]

from what I understand you will have to file divorce prosedings and the marital assets will be divided by courts according to laws in your area where filed it is always advisable to use an attorny to file proper papers to protect your property otherwise your husband could refinance and take all the equity before the settlment and you would be sol

Wow. No punctuation at all. I don't know how the non-punctuationists sleep at night, but I assume they do, indeed, sleep.