fair legal value of a home

[yodazgirl]

Should the fair legal value of the home be assessed at the time of separation or at the trial date? If it has to be done at the time of trial, can I get credit for the mortgage payments that he has refused to help with? I have no problem buying him out of the home, however if a fair value cannot be agreed upon, then the equity will be more the longer the fueding goes on as the trial date will be later and later. I am in pro per on this one and searching for some good knowledge withour hiring an attorney...please help any way you can...thanks

 

[trueman]

Answer

Appraisal time is irrelevant because it is not an exact value, only a rough comparison and an assigned value. But you will probably not get any credit for paying a mortgage. Heres why in an exxageration. You both are married and own ahome jointly. Lets say it is worth $200k. If you alone build an addition on the house for $50k you are essentially gifting him $25. By paying your mortgage, you are simply gifting him his share. That is what marriage is about in the courts, couples are viewed as gifting one another as long as they are legally married. If either of you won lotto.. it could be divided as well.