Fair market Value

[Bali Hai]

i am not a woman and i know all to well the perils of not being one. i have already had two lawyers, which have gotten better and better, i thought that each was "kick ass", the first one got me a temporary order which awarded ex more than i make on a weekly basis. the second took my money for a year and did not progress the case in the slightest

i have my back against a wall and no where to turn at this point

If you know any "kick ass" lawyers i am all ears


Any and all help is kindly appreciated

I come from where you are Bro. My only advice "Don't vote for that Hilary Bitc@". There isn't a lawyer in the State of New York that has the guts to help you. Not in a New York minute. I'm with you, for what it's worth.

 

[almost done]

well i appreciate the support, and ironically i was tempted to write a letter to clinton asking for thelp, and seeing as it is coming time for an election, it could do her good to help a poor ******* like myself

who know, i need to try something different, nothing else seems to be working

 

[Bali Hai]

well i appreciate the support, and ironically i was tempted to write a letter to clinton asking for thelp, and seeing as it is coming time for an election, it could do her good to help a poor ******* like myself

who know, i need to try something different, nothing else seems to be working

Well that Bitd@@## is your worst enemy! You think she cares about poor people??? Think again.

You have no other choice my friend, suck it up and blow bubbles out your ass.

 

[nextwife]

Bali, this isn't FOX NOISE. Please stop, find a forum that cares about your political opinions.

The poster asked for specific information that will help him accomplish a property split. Your Hillary rants do not help him accomplish this.

 

[LdiJ]

I would like to point something out, that got touched on, but not truly addressed.

No, the 30 of debt would not become her responsibility. Only 1/2 of it is her responsibility.
You are benefiting equally from the remodeling in the higher value of the home, therefore a greater amount of equity to you, therefore if she would to include the debt in a refinance, she would only have to include 1/2 of the debt.

If the house were being sold, then the 30k could be taken from the proceeds, but only because that would be reducing BOTH of your share's of the equity.

 

[nextwife]

I would like to point something out, that got touched on, but not truly addressed.

No, the 30 of debt would not become her responsibility. .

The mortgage should be paid off, if in your name only.

Example: Say the house is worth $170,000, the payoff is $30,000. The equity is $140,000, or $70,000 to each. If she buys you out, she needs a mortgage of $100,000. $30,000 to pay off the mortgage, and a cash out of $70,000, unless there are other assets that can substitute.

You absolutely do NOT want the mortgage to remain on a house you no longer own.

Only 1/2 of it is her responsibility.
You are benefiting equally from the remodeling in the higher value of the home, therefore a greater amount of equity to you, therefore if she would to include the debt in a refinance, she would only have to include 1/2 of the debt.

If the house were being sold, then the 30k could be taken from the proceeds, but only because that would be reducing BOTH of your share's of the equity.

It WAS addressed. I stated the joint debt should be deducted from the joint asset! How do you think I came up with the theoretical equity, based upon a theoretical value? And I had also stated that her SHARE of the 401K loan debt could be adjusted against her share of the 401K assets. His 15 and her 15. Since it is a loan against HIS 401K, it can remain as a debt, if he wishes, so she could take 15K less in 401K funds from him.

Personally, I think it unfair that she used her dad's gift to neglect to squirrel away her fair share of 401K savings to split. She gets half what he got during the marriage, but she failed to save a penny into 401K or IRA because of Daddy money, so he gets nothing from her retirement. She offset her responsibility to save for retirement because of all the money she was getting from Daddy.

money that she gets ... for having POA over her fathers estate ($60,000/year) but being that it is a "gift" i dont think that i can have it held against her as income

And frankly, if it was being paid for services, then it should have been marital moneys. Although, I don't understand how she could have a POA over an ESTATE. If it's an estate, a POA is not valid.

 

[LdiJ]

You were the one who "touched upon it"...but I didn't think that you were clear enough the first time, that he would definitely understand what you meant. I just wanted to be more specific about the additional debt for the remodeling. I wasn't commenting on the mortgage.

 

[tranquility]

While 1/2 of the debt is important in the equity calculation, the refinance can only fairly be done regarding the whole debt and not just on sale. This transfer of debt is required for one person to gain the benefit of possession rather than selling the house now and splitting the equity.

 

[Bali Hai]

Bali, this isn't FOX NOISE. Please stop, find a forum that cares about your political opinions.

The poster asked for specific information that will help him accomplish a property split. Your Hillary rants do not help him accomplish this.

Yes'em**************..

 

[almost done]

I would like to point something out, that got touched on, but not truly addressed.

No, the 30 of debt would not become her responsibility. Only 1/2 of it is her responsibility.
You are benefiting equally from the remodeling in the higher value of the home, therefore a greater amount of equity to you, therefore if she would to include the debt in a refinance, she would only have to include 1/2 of the debt.

If the house were being sold, then the 30k could be taken from the proceeds, but only because that would be reducing BOTH of your share's of the equity.

Ok but in essence if she is going to purchase the house from me, than why would i be responsible for the debt that directly increased the value of the property. i would have to take part of my share of the equity to pay off a loan on the property that she would then own? that doesn;t make sense to me.

When i say that she has POA of fathers estate, i may have misspoke- by estate, i merely meant all of his finances. She has even taken out a home equity loan on his house (that was already paid in full, and sits empty as he is in a home) for her own personal uses. i believe that she intends to use this money to purchase my share out, which is why i was curious about the market values to begin with

 

[LdiJ]

Ok but in essence if she is going to purchase the house from me, than why would i be responsible for the debt that directly increased the value of the property. i would have to take part of my share of the equity to pay off a loan on the property that she would then own? that doesn;t make sense to me.

When i say that she has POA of fathers estate, i may have misspoke- by estate, i merely meant all of his finances. She has even taken out a home equity loan on his house (that was already paid in full, and sits empty as he is in a home) for her own personal uses. i believe that she intends to use this money to purchase my share out, which is why i was curious about the market values to begin with

You aren't thinking it through clearly. You want to benefit from the higher value of the home due to the remodeling....but you don't want to be responsible for 1/2 of the debt that paid for the remodeling, which in turn increased the value of the home.

If you could determine the value of the home PRIOR to the remodeling...and asked for an equity share based on that figure only, then there would be some logic in you asking for her to be 100% responsible for the cost of the remodeling. However that doesn't appear to be what you are asking.