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My house during a divorce what am i entitled too?

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Barrcor

New member
We own a home together in Florida, but we actually bought the home 3 years prior to getting married. But we are both owners on the home 50/50 listed as JWTROS and we both are on the mortgage and the deed. $60k was the down payment on the house. He put down the $60k. Now our house is worth about $40k more right now from when we bought it. He is telling me that since he put the most down ( the whole down payment) that I will only get half of what extra profit we make on the house ( the $40k ) not the entire $100k. But I have added renovations to this house and i contribute to paying the monthly mortgage. My question is am I entitled to completely the full equity amount in the house (the $100k) or am I only entitled to profit we make on it extra.
He was trying to get me to sign off on the quick deed... so that I can get nothing. He keeps trying to convince me that he is the main owner and he said he will push for me to get nothing. I wondering if it is even worth fighting this battle if in the end he will get the majority. What exactly am I as a homeowner entitled too? Is it half the equity which is around 100k or is it just half the profit we made on the home around 40k? Thanks
 
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Zigner

Senior Member, Non-Attorney
I don't understand...why would you get anything but half the equity when the house is sold?
 

quincy

Senior Member
What is the name of your state? We own a home together in Florida but we actually bought the home 3 years prior to getting married. But we are both owners on the home 50/50 both on the mortgage and the deed. $60k was put down on the house ( he put a bit more down money than I did on the house). Now he is telling me that he put the most down that I will only get half of what extra equity we make on the house. Like right now our house is worth maybe $40k more than what we bought it for. But I have added renovations to this house and contribute to paying the monthly mortgage. My question is am I entitled to completely the full half amount of the house or am I only intitled to
the extra bit of equity that has been made on the house if it were to be sold? He was trying to get me to sign off on the quick deed so that I can get nothing. He keeps trying to convince me that he is the main owner and I am only going to get less than half in this deal ( but he said he will push for me to get nothing). I wondering if it is even worth fighting this battle if in the end he will get the majority. What exactly am I as a homeowner entitled too? Thanks
Don’t listen to your soon-to-be-exhusband. He does not have your best interests in mind.

You should be entitled to half the value of the house.

You should hire a divorce attorney.
 

CLJM

Member
You are entitled to 1/2 the equity proceeds from the sale of the home------- minus mortgage payoff and minus any other selling expenses.
 

Zigner

Senior Member, Non-Attorney
You are entitled to 1/2 the equity proceeds from the sale of the home------- minus mortgage payoff and minus any other selling expenses.
Your response is incorrect partially incorrect, and therefor misleading. The OP is entitled to half the equity, minus (Edit) half the costs involved in the sale (as you stated), but the mortgage payoff isn't part of the equity.
 
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FarmerJ

Senior Member
Do not be surprised if the soon to be ex`s attorney ask for the down payment to be paid back. Have you considered using two sheets of paper and making columns and on each start with monthly house payments pre marriage for each of you and what each person paid then Post marriage to see what each of you paid then ( don't bother with utilities ) property taxes and ins pre marriage and post marriage then begin to total up the materials bought to do things and who paid what and then finally the current market value of the home if it were to be sold I suggest this all because maybe you want to see exactly how it all totals out and who paid what as far as materials and the actual mortgage and then divide it against what the house could be sold for and also just for the heck of it deduct the 60k down payment and see what is left over ( I suggest to do this because if your divorce attorney needed the information why on earth would you want to pay attorneys clerk-staff to total it all up for you?
 

quincy

Senior Member
It is also possible that Barrcor could walk away with all of the equity in the house (and the house) - in exchange for giving up another (comparable) marital asset.

But it is important for Barrcor to have a divorce attorney as it seems clear that her soon-to-be-ex is already trying to convince her of things that are not true.
 

LdiJ

Senior Member
Your response is incorrect partially incorrect, and therefor misleading. The OP is entitled to half the equity, minus (Edit) half the costs involved in the sale (as you stated), but the mortgage payoff isn't part of the equity.
I think that if CLJM had put a comma after "1/2 of the equity", it would have read differently. I think that he/she was trying to say the equity equaled the sales proceeds minus the mortgage and selling expenses.
 

Zigner

Senior Member, Non-Attorney
I think that if CLJM had put a comma after "1/2 of the equity", it would have read differently. I think that he/she was trying to say the equity equaled the sales proceeds minus the mortgage and selling expenses.
That may be the case, but, as written, the post was misleading.
 

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