after I revised her counterproposal, I said this:
1. house#1 160k-53k-77k HELOC =30k x 25% = 7.5k
2. house#2 105k-0 -0 =105k / 2 = 52.5k
3. I agree to 5k for his credit cards (Ishouldn't.... but I want to finish with this)
52.5k-7.5k+5k = 50k
doesn't it seem better?
house#1 will remain my husband sole and separate property
house#2 will remain my sole and separate property
I am working full time
my yearly income is like 25% more than my husbands (as he declared in his CIS, but it is not true, he has a second job, so he earn pretty much some amount as me)
Thank you for your follow-up.Then that explains why the HELOC would become yours, if you take over the property then the HELOC obligations (the debt) is generally held by the spouse who takes over the asset. In that case the attorney's proposal does make sense. I agree that you can potentially negotiate for a greater share of the original property, but I also agree with the attorney that the HELOC would become your responsibility if you end up taking over that property. If unhappy with the attorney you are always able to replace him, but at least from your facts I do not see his counter-proposal as unfair or one-sided.Good luck. (I am sorry)
the HELOC is not for house#2, which will become mine.
the HELOC is for house#1 , which will become his.
but even so, I still do not see why I should pay 67k
1. house#1 160k-53k-0 HELOC =107k x 30% = 32.1k
2. house#2 105k-0 -77k HELOC = 28k / 2 = 14k
3. I agree to 5k for his credit cards (I shouldn't.... but I want to finish with this)
77k HELOC - (32.1k-14k-5k) = 63.9k
am I correct?
but if the HELOC is going agaisnt house#2 .... based on the fact when we married he just did a third mortgage for house#1 (to pay off his ex wife), mortgage became 127k. during our marriage WE paid 74k against this mortgage (in 7 years and 6 months), plus we paid over 50k debts from his first marriage
then I think I am entitle for more than 30% from house#1,
don't you think?
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).