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oldmarriedfool
Posts: 10
Mar 2, 2011 1:43pm
just curious with a scenario.
-married couple for lets say 6-8 months.
-purchased house with just one name on the morgtage for lets say 120k.
-that is pretty much the extent of what was purchased after the wedding with the exception of furniture.
apparently ohio is a 50/50 state.
-if spouse A wants the house and gets it how does the rest usually pan out? with the 120k house does that mean spouse B is to be paid 60k? no idea how it all works out. anyone know how that stuff goez?
-married couple for lets say 6-8 months.
-purchased house with just one name on the morgtage for lets say 120k.
-that is pretty much the extent of what was purchased after the wedding with the exception of furniture.
apparently ohio is a 50/50 state.
-if spouse A wants the house and gets it how does the rest usually pan out? with the 120k house does that mean spouse B is to be paid 60k? no idea how it all works out. anyone know how that stuff goez?
THE4RINGZ
Posts: 16,816
Mar 2, 2011 1:48pm
Why would Spouse B get $60k?
ytownfootball
Posts: 6,978
Mar 2, 2011 1:49pm
THE4RINGZ;697364 wrote:Why would Spouse B get $60k?
House keeper buys out house departer.
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oldmarriedfool
Posts: 10
Mar 2, 2011 1:50pm
idk. i have no clue on how it all works and stuff. in a 50/50 state like ahia how does a house get split up. especially if it was just purchased. if spouse A takes the house what could spouse b be awarded.
ytownfooootball. house was purchased only couple months ago so like only 2 payments have been made.
ytownfooootball. house was purchased only couple months ago so like only 2 payments have been made.
ytownfootball
Posts: 6,978
Mar 2, 2011 1:50pm
Unless the house is bought and paid for though, you're going to simply be splitting debt, or need to quick deed to A.
thedynasty1998
Posts: 6,844
Mar 2, 2011 1:50pm
I'm pretty certain that since it was bought after marriage, that both parties have an equal interest in the property, regardless of who is on the title and mortgage.
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Gblock
Mar 2, 2011 1:52pm
well if they could agree on that, but if the house wouldnt sell for 120 or if there are disagreements then the house would be sold and the resulting debt or profit would be split i assume
THE4RINGZ
Posts: 16,816
Mar 2, 2011 1:52pm
ytownfootball;697369 wrote:Unless the house is bought and paid for though, you're going to simply be splitting debt, or need to quick deed to A.
That was my point... they don't own a $120k house. The equity, if any, would be split.
THE4RINGZ
Posts: 16,816
Mar 2, 2011 1:53pm
At any rate, best of luck with your divorce OP. Hope you land on your feet.
ytownfootball
Posts: 6,978
Mar 2, 2011 1:55pm
You'll get an idea of how it works on here, but you need an attorney.
There is a time frame, all things that were owned previous to the marriage are still property of those who brought it in. The only things that are equally divided are those things gained following the marriage.
There is a time frame, all things that were owned previous to the marriage are still property of those who brought it in. The only things that are equally divided are those things gained following the marriage.
THE4RINGZ
Posts: 16,816
Mar 2, 2011 2:00pm
Make sure you contact all the good divorce attorney's in your area first. Get an initial consultation, That way they cannot represent her against you.
I saw that tactic on The Soprano's and it is brilliant.
I saw that tactic on The Soprano's and it is brilliant.
Fab1b
Posts: 12,949
Mar 2, 2011 2:01pm
I am divorced but in Florida. We purchased as house together and sold it before seperating. We used legal zoom for our divorce filing. We split all posessions down the middle and paid off any debt we could with profit from the home and split the rest that was left down the middle. She agreed to take on the responsibility of a condo we bought so I wiped my hands clean of that (even though I am on the mortgage, the court agreed to her bearing financial responsibility as far as payments made. Only if she didn't pay could they come after me, she has since paid it off so that is a done deal now).
Belly35
Posts: 9,716
Mar 2, 2011 2:03pm
Sell the house a splite to profit .... simple
No profit ... stay married, sleep in different room ...cheaper that a separation.. at this time.
No profit ... stay married, sleep in different room ...cheaper that a separation.. at this time.
THE4RINGZ
Posts: 16,816
Mar 2, 2011 2:04pm
You got lucky.
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oldmarriedfool
Posts: 10
Mar 2, 2011 2:04pm
that is true. there has only been a couple of payments on the house so i assume that is the equity? i am very clueless in this type of stuff and the other spouse makes many threats and just trying to figure out what is true and fictionTHE4RINGZ;697375 wrote:That was my point... they don't own a $120k house. The equity, if any, would be split.
THE4RINGZ
Posts: 16,816
Mar 2, 2011 2:06pm
How much was the downpayment? That would be the source of equity not your two payments
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oldmarriedfool
Posts: 10
Mar 2, 2011 2:09pm
THE4RINGZ;697402 wrote:How much was the downpayment? That would be the source of equity not your two payments
few thousand bucks. was not much. so that is pretty much the equity?
THE4RINGZ
Posts: 16,816
Mar 2, 2011 2:12pm
Probably not much there with a small amount of down payment unless you bought the house way below appraised value.
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oldmarriedfool
Posts: 10
Mar 2, 2011 2:15pm
THE4RINGZ;697377 wrote:At any rate, best of luck with your divorce OP. Hope you land on your feet.
thanx. of course did not ever expect this to happen at all and it is not a done deal thats for sure. just trying to get some information. anyone who has been divorced when does the guilt and shame of the idea succumb to the reality that neither is happy and the best thing is to end it and to pull the trigger? right now that seems to be the only thing keeping the two together, that they are scared, embarrased and guilty. not that either has stepped out on teh marriage or anything but am talking about the guilt that is associated with feeling like you failed
THE4RINGZ
Posts: 16,816
Mar 2, 2011 2:24pm
Dude swallow your pride and cut your losses early in the game if you don't think things have a legitimate chance of ever working out. If you are convinced you will never reconcile, time is only going to create more animosity, and make the divorce even more of a pain in the ass.
And if the house thing doesn't work out, here is a list of four things that might help you solve the situation:
1. Dark clothing.
2. A gas can
3. A lighter
4. An air tight alibi.
I kid.
And if the house thing doesn't work out, here is a list of four things that might help you solve the situation:
1. Dark clothing.
2. A gas can
3. A lighter
4. An air tight alibi.
I kid.
ytownfootball
Posts: 6,978
Mar 2, 2011 2:26pm
If you're a young guy, there's little need for guilt, there's no kids I assume?
Wedding cake fucks up a lot of shit, no need to feel guilty at all.
Wedding cake fucks up a lot of shit, no need to feel guilty at all.
Iliketurtles
Posts: 8,191
Mar 2, 2011 2:28pm
I would make 4. Your wife in the house then 5. An air tight alibi.THE4RINGZ;697430 wrote:Dude swallow your pride and cut your losses early in the game if you don't think things have a legitimate chance of ever working out. If you are convinced you will never reconcile, time is only going to create more animosity, and make the divorce even more of a pain in the ass.
And if the house thing doesn't work out, here is a list of four things that might help you solve the situation:
1. Dark clothing.
2. A gas can
3. A lighter
4. An air tight alibi.
I kid.
.
THE4RINGZ
Posts: 16,816
Mar 2, 2011 2:29pm
Iliketurtles;697439 wrote:I would make 4. Your wife in the house then 5. An air tight alibi.
I like where your head is at on this one.
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oldmarriedfool
Posts: 10
Mar 2, 2011 2:49pm
ytownfootball;697434 wrote:If you're a young guy, there's little need for guilt, there's no kids I assume?
Wedding cake fucks up a lot of shit, no need to feel guilty at all.
no kids between us but one spouse does have a kid and that is part of what makes it very difficult.
Speedofsand
Posts: 5,529
Mar 2, 2011 2:53pm
Only one name on the mortgage = home owner. There will be no equity yet. Spouse B needs to sign a quit-claim deed and gtfo. Short marriages = easier divorces. Consult your local lawyers. No matter what, you will need a lawyer to protect yourself.