General Questions.

[Psych]

What is the name of your state? NC

Hello all. I have a few general questions about separation/divorce procedures. My parents are currently separated and I assume a divorce is inevitable. Anyway, my mother is forcing my father to sell the house. He said he called an appraiser today who told him that in divorce/separation cases, two appraisers must be hired. One for him, one for her. Can they not agree to accept the appraisal of one person? The potential appraiser also said that such cases always end up in court so he would have to be paid to testify. Is this how it works?

Also, my dad tried to call some lawyers today. Seems the going rate is $250 an hour. Are there any who charge a flat rate or is this the norm?

Any help would be much appreciated.....

 

[stephenk]

The appraiser is full of hot air. I bet he has another appraiser who he can recommend for mom.

If your mom and dad agree upon one appraiser and are willing to go with the figure of the appraiser, so be it. The more your mom and dad can agree upon regarding division of property, the easier it will be.

 

[ceara19]

What is the name of your state? NC

Hello all. I have a few general questions about separation/divorce procedures. My parents are currently separated and I assume a divorce is inevitable. Anyway, my mother is forcing my father to sell the house. He said he called an appraiser today who told him that in divorce/separation cases, two appraisers must be hired. One for him, one for her. Can they not agree to accept the appraisal of one person? The potential appraiser also said that such cases always end up in court so he would have to be paid to testify. Is this how it works?

Also, my dad tried to call some lawyers today. Seems the going rate is $250 an hour. Are there any who charge a flat rate or is this the norm?

Any help would be much appreciated.....

The attorney fees don't sound out of line. I would tell your mother to call a few appraisers herself and see what they have to say. If BOTH of them agree on ONE appraisal, there should be no need for any additional appraisals or testimony.

 

[nextwife]

And your dad DOESN'T have to sell the house, unless a judge ordered him to do so. He can offer to buy out mom's interest so she can take her money out, refinancing her off the mortgage with a cash out refi, and they can use the appraisal value, if agreeable, to establish her share. The equity she would be due would normally be half the value minus half the remaining mortgage payoff amounts. Just because mom wants "out" of the house doesn't automatically mean dad has to give it up. If it's economically possible, dad could just buy out her half.

Just a question: many spouses incorrectly assume that everything the other owns is half theirs. While that is often true, seperate assets acquired PRIOR to the marriage that are not comingled with marital funds, or assets acquired seperately by gift or inheritance are not necessarilly marital property.

 

[Bali Hai]

And your dad DOESN'T have to sell the house, unless a judge ordered him to do so. He can offer to buy out mom's interest so she can take her money out, refinancing her off the mortgage with a cash out refi, and they can use the appraisal value, if agreeable, to establish her share. The equity she would be due would normally be half the value minus half the remaining mortgage payoff amounts. Just because mom wants "out" of the house doesn't automatically mean dad has to give it up. If it's economically possible, dad could just buy out her half.

Just a question: many spouses incorrectly assume that everything the other owns is half theirs. While that is often true, seperate assets acquired PRIOR to the marriage that are not comingled with marital funds, or assets acquired seperately by gift or inheritance are not necessarilly marital property.

Also, so-called "equitable distribution factors" in the equitable distribution statute can be used to justify a judge's discretion of unequal (non-50/50) distribution of marital property.

Such factors include one spouse's health, income-earning potential, need to reside in the marital home with the children of the marriage, a spouse's business or unvested pension interests, and similar economic factors.

This means that the judge's discretion can put the home out of your father's reach.

 

[nextwife]

Also, so-called "equitable distribution factors" in the equitable distribution statute can be used to justify a judge's discretion of unequal (non-50/50) distribution of marital property.

Such factors include one spouse's health, income-earning potential, need to reside in the marital home with the children of the marriage, a spouse's business or unvested pension interests, and similar economic factors.

This means that the judge's discretion can put the home out of your father's reach.

Ah, but if it's by chance NOT marital property (bought and paid for before marriage, inherited and always in just his name, bought in his name with inherited money only), it would not be subject to equitable distribution. Of course we have no idea. I was just pointing out that it's not always automatic that the home must be sold, or that it IS marital property.

 

[Bali Hai]

Ah, but if it's by chance NOT marital property (bought and paid for before marriage, inherited and always in just his name, bought in his name with inherited money only), it would not be subject to equitable distribution. Of course we have no idea. I was just pointing out that it's not always automatic that the home must be sold, or that it IS marital property.

I understand your point.

If the wife is being vindictive and does not want to see the husband retain the home, then chances are that is exactly what will happen when the judge hears the case.

She'll say she's sick, can't work, he gambled away marital funds, etc. etc. and was a victim of everything under the sun to get sympathy.

And the court will likely go right along with her bullsh!t. Why? Because it's the politically correct thing to do.

Do you understand my point?

 

[Silverplum]

What is the name of your state? NC

Hello all. I have a few general questions about separation/divorce procedures. My parents are currently separated and I assume a divorce is inevitable. Anyway, my mother is forcing my father to sell the house. He said he called an appraiser today who told him that in divorce/separation cases, two appraisers must be hired. One for him, one for her. Can they not agree to accept the appraisal of one person? The potential appraiser also said that such cases always end up in court so he would have to be paid to testify. Is this how it works?

Also, my dad tried to call some lawyers today. Seems the going rate is $250 an hour. Are there any who charge a flat rate or is this the norm?

Any help would be much appreciated.....

This is for your parents to deal with. This is not your problem, and you should not be in the middle. (I do not know if you are an adult or a child, nor do I care.)

 

[Psych]

Thanks

Thanks everybody for your help. I'll post again as new things arise.