Its been 7 years... Now she want the house

[chris1759]

I'm From NC. I have been divorced for 7 years but there was never any property settlement. Now my ex has remarried and they want the house. This was property we purchased during our marriage... I never said anything because she lived there with the kids. I Pay child support but she pays the mortgage. She has sent me papers to deed the house over to her. What Legal rights do I have.
Thanks
Chris1759

 

[BelizeBreeze]

I'm From NC. I have been divorced for 7 years but there was never any property settlement. Now my ex has remarried and they want the house. This was property we purchased during our marriage... I never said anything because she lived there with the kids. I Pay child support but she pays the mortgage. She has sent meed papers to deed the house over to her. What Legal rights do I have.
Thanks
Chris1759

Tell her to "BITE ROCKS" and that you will sign the deed at a refinance closing when you are handed a check for 1/2 of the equity in the home.

 

[LdiJ]

OP, how much equity did you have in the home when you divorced? How much equity is in the home now? While you could certainly do as Belize recommends and ask for half, she has been the one paying the mortgage and upkeep for the last 7 years, therefore it may be more equitable to ask for some amount that is less than half.

 

[Bali Hai]

OP, how much equity did you have in the home when you divorced? How much equity is in the home now? While you could certainly do as Belize recommends and ask for half, she has been the one paying the mortgage and upkeep for the last 7 years, therefore it may be more equitable to ask for some amount that is less than half.

His child support checks put the roof over the childrens heads when she paid the mortgage with it.

1/2 is "equitable".

 

[LdiJ]

His child support checks put the roof over the childrens heads when she paid the mortgage with it.

1/2 is "equitable".

We are going to have to agree to disagree on that one. If he had been paying half of the mortgage and the upkeep...AND child support, I would be more inclined to view it your way.

OP...you don't want to spends tons of money on an attorney to fight this thing out...at least you don't want to spend so much that it isn't cost effective. For example, if there is only 20k in equity and you spend 5k on an attorney fighting it out....even if you are awarded 50%, you effectively would only receive 25% after paying your attorney (that is an example only)

Think very carefully what you would feel would be fair if the roles were reversed. If you had custody of the children, were receiving child support and had paid for the mortgage and upkeep on the home for the last 7 years.....and negotiate from that point.

Also, look over your divorce paperwork carefully to make sure that the house wasn't addressed in the divorce. Its actually quite unusual for a house not to be addressed in a divorce, therefore there may be some reference in there that you have forgotten about.

 

[chris1759]

Its Been Seven Year Reply

She was in such a hurry to get with the man she married which is the reason for the divorce.... so we did not have any property settlement. I gave her everything, but a picture that was a present, a TV and a stereo. We Both took our own cars. I'm fine if we settle when the twins get out of school. How should I Offer to settle this then.
Thanks Again
chris1759

 

[LdiJ]

She was in such a hurry to get with the man she married which is the reason for the divorce.... so we did not have any property settlement. I gave her everything, but a picture that was a present, a TV and a stereo. We Both took our own cars. I'm fine if we settle when the twins get out of school. How should I Offer to settle this then.
Thanks Again
chris1759

Any way that you honestly believe is fair.

Here is another potential example: Figure out what the equity is now. Deduct what she has paid in principle over the last 7 years, and any money she spent on repairs or improvements, and then split the rest in half.

Or, ask for only 1/2 of the equity that existed when you divorced.

Or, ask for 20% or any other percentage that you feel is fair.

The bottom line is that unless the house had zero equity, or was upside down when you divorced, you are entitled to a share of the equity. What that share should be, depends on what the two of you agree is fair.....or what a judge decides is fair if you cannot agree.

Just don't spend so much on fighting it out in court that you end up dissipating a big chunk of whatever equity you might get....negotiate.

 

[nextwife]

OP, how much equity did you have in the home when you divorced? How much equity is in the home now? While you could certainly do as Belize recommends and ask for half, she has been the one paying the mortgage and upkeep for the last 7 years, therefore it may be more equitable to ask for some amount that is less than half.

She's been LIVING there, so she SHOULD be paying more! She had use of it, he didn't.

He did NOT have use of the money to utilize in OTHER investments that could have brought him a decent return on his money.
NOR could he earn interest, or invest in the stock market with that money all these years (which has done VERY well).

He should get his 50% equity. That IS fair.

 

[moburkes]

And interest.

 

[BelizeBreeze]

OR he could just file a partition action and let her ring up about $10,000 in legal fees.

 

[garrula lingua]

OP: did either of you have retirements or IRA or 401k accounts at the time of your separation ?

PS: I'd go for 50% on the house. Check what the fair market rental would have been in that area for the past 7 years. Was the mortgage lower than what she could have rented the house for ?
If so, I'd definitely ask for a 50/50 split.

 

[BelizeBreeze]

OP: did either of you have retirements or IRA or 401k accounts at the time of your separation ?

PS: I'd go for 50% on the house. Check what the fair market rental would have been in that area for the past 7 years. Was the mortgage lower than what she could have rented the house for ?
If so, I'd definitely ask for a 50/50 split.

You're such a mean ogre

 

[LdiJ]

Geeze....I am glad my ex didn't get advice from this forum...LOL

He split 3 months after we bought the house so there was NO equity....in fact, a partition would have cost BOTH of us signficant bucks. Our loan was FHA...we came out of closing owing more than the FMV of the home.

I refinanced 3 or 4 years later and he didn't have a single problem with signing a quit claim at that time. I maybe should have done it sooner but neither of us even though of it until that first real drop in interest rates (thats why I refied....we bought when standard interest rates were 10 3/4...and that was back when 8 1/2 was a BIG DEAL). If we had had any equity when we split up I would have felt that something was due to him, but we sure as heck didn't.

Of course he paid child support...he felt it was his responsiblilty to do so but would never have considered that the fact that he paid child support meant that he paid my mortgage..

Of course we didn't divorce until about 8 years after we split up, and had totally divided our financial lives long before then (he had purchased a house too)...and neither of us would have ever DREAMED of trying to profit from the other at the time of divorce.

I don't see this case as being any different. If there was equity when they split then he is entitled to something....and some interest/appreciation on that equity since he could have used the money to invest in something else had they handled it at the time of divorce.

However, expecting him to get 50/50 when he didn't contribute to the mortgage or the upkeep is patently unfair....and would be patently unfair if the roles or genders were reversed.

 

[garrula lingua]

You're such a mean ogre

Thank you

I think we all have to try harder to make up for the loss of our intelligent and most colorful poster.

 

[Bali Hai]

Geeze....I am glad my ex didn't get advice from this forum...LOL

He split 3 months after we bought the house so there was NO equity....in fact, a partition would have cost BOTH of us signficant bucks. Our loan was FHA...we came out of closing owing more than the FMV of the home.

I refinanced 3 or 4 years later and he didn't have a single problem with signing a quit claim at that time. I maybe should have done it sooner but neither of us even though of it until that first real drop in interest rates (thats why I refied....we bought when standard interest rates were 10 3/4...and that was back when 8 1/2 was a BIG DEAL). If we had had any equity when we split up I would have felt that something was due to him, but we sure as heck didn't.

Of course he paid child support...he felt it was his responsiblilty to do so but would never have considered that the fact that he paid child support meant that he paid my mortgage..

Of course we didn't divorce until about 8 years after we split up, and had totally divided our financial lives long before then (he had purchased a house too)...and neither of us would have ever DREAMED of trying to profit from the other at the time of divorce.

I don't see this case as being any different. If there was equity when they split then he is entitled to something....and some interest/appreciation on that equity since he could have used the money to invest in something else had they handled it at the time of divorce.

However, expecting him to get 50/50 when he didn't contribute to the mortgage or the upkeep is patently unfair....and would be patently unfair if the roles or genders were reversed.

This is the problem I've noticed with you and some others advice here. You were let off the hook too easy and the rationale used in your advice reflects that.

In the real world of todays divorce, people go for the jugular.