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I want to learn more about how home equity can factor in to…

Customer Question
Hi, i want to...

Hi, i want to learn more about how home equity can factor in to support payments in a divorce

Lawyer's Assistant: What steps have you taken? Have you filed any papers in family court?

None, we have aediation appointnent coming up

Lawyer's Assistant: Family law varies by state. What state are you in?

Alberta canada

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

What i would like to try to do is have my equity in the home paid out as support in full or in part.

Submitted: 5 months ago.Category: Canada Law
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Answered in 2 minutes by:
11/10/2017
Lawyer: Debra, Lawyer replied 5 months ago
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 104,003
Experience: Lawyer
Verified

Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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Lawyer: Debra, Lawyer replied 5 months ago

I am sorry it sounds like you are in a difficult situation.

The two issues are completely separate.

But if you can agree you can agree to exchange a lump sum payment coming out of the equity instead of monthly payments. A court will not order that but it can be agreed upon.

Does that fully answer your question?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Customer reply replied 5 months ago
She will be earning rental income from the property, currently her income is zero, but rental income will come to 10000 + per year. How will this factor in to support calculations?
Lawyer: Debra, Lawyer replied 5 months ago

Support will be based on both your incomes.

Have you seen this online calculator which you can use for free?

http://www.mysupportcalculator.ca/

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Lawyer: Debra, Lawyer replied 5 months ago

Is there anything more I can help you with at this point in time?

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