Family Law Questions? Ask a Family Lawyer Online.
A aeparation agreement defines the obligations of the parties in a divorce. It is part of the divorce decree/order.The reason they want it is to see if you have spousal support, and child support obligations.
This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.
i paid 5000 down on property we share she has made payments on property
but borrowed against prop to raise debt to 56000 property worth more but would sell for 85 t090 iam sure she want to get a divorce stating sell property and split equity
but i could take debt with property and then she would not be obligated at all i would need to get medicare part b oked before i make such a large decision really the 5ooo
i paid down equates to just about all the equity what is your thoughts if u answer i will pay the full fee Customer
I am not sure what you are asking. If you get divorced you wife would be entitled to 1/2 the equity in the home. Yo ou could take the property but you would still owe her 1/2 the equity using the current appraised value.
Even if you agree to take the debt with the poperty you would still need to pay the wife about $15,000.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).