right to equity....

[techrad71]

What is the name of your state? Ma..

Does anyone know if in Mass my wife has a legal right to half of the equity on my house.. We were together but not married when I bought it.. It is in my name only.. She wants to seperate and I told her I will not leave the house since the split is not my wish but hers.. Plus her name is not on it, and I wouldn't want to leave only to have her not pay the mortgage.. She insists upon the house being sold, but I want to keep it.. If I have to, I will refinance and give her half of the equity, but I'm not sure if she's entitled...

 

[BelizeBreeze]

You live in one of the few states where she is 'entitled', albeit, at what level is yet to be determined.

Masschusetts has their own scheme for separate vs. marital property, including all property for division at the time of divorce.

My suggestion is to speak with a good divorce attorney about drafting an agreement along the lines that you are already thinking (i.e., offer her 1/2 of the equity of the home from the time of marriage to the present).

 

[nextwife]

I'd tell her the same thing- I'm not leaving.

Now, depending upon whether Marital funds were used to pay the mortgage, etc, it MAY be possible that she is NOT entitled to half the equity. And understand it is not half of all the equity, it is half the equity that accrued SINCE the marriage.

For example, if you owned it F&C or have premarital investment income that was being used to make the mortgage payments instead of regular income, it may even be possible to maintain the premarital asset had not become marital property. AS stated, talk to an attorney.

 

[techrad71]

Well I bought the house roughly a year before we married and she was unemployed up til about 9 months ago.. It is only part time and though I asked her to contribute to the bills she refused.. I asked her to at least pay for her own cell phone and that was like asking her to cut off her own arm.. She is currently looking for an apartment and I am giong insane because although she wishes to leave I still pay all the bills and do all the housework.. We have 2 young children and if not for them, she would spend no time here anyway.. As soon as I come home from work she's out the door... I'm losing my mind... I hate to think she deserves anything, but I know the law says she does, but I really can't afford a lawyer to help..

 

[LdiJ]

Well I bought the house roughly a year before we married and she was unemployed up til about 9 months ago.. It is only part time and though I asked her to contribute to the bills she refused.. I asked her to at least pay for her own cell phone and that was like asking her to cut off her own arm.. She is currently looking for an apartment and I am giong insane because although she wishes to leave I still pay all the bills and do all the housework.. We have 2 young children and if not for them, she would spend no time here anyway.. As soon as I come home from work she's out the door... I'm losing my mind... I hate to think she deserves anything, but I know the law says she does, but I really can't afford a lawyer to help..

Most likely she IS entitled to somewhere close to half of the equity in the home. Therefore you probably need to be prepared to pay her half. It honestly doesn't matter if she worked or not. I know it doesn't seem fair but that is reality. Since you are the sole owner of the home now, you don't need her signature to refinance, so you probably should go ahead and get it set up so that you can pay her as soon as you are ordered to do so.

If you don't end up having to give her a full 1/2...then you can always put the excess proceeds right back into the house.