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I’m trying to determine the correct method to calculate the…

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I’m trying to determine the...
I’m trying to determine the correct method to calculate the funds due to my spouse while living at my house during our marriage.I own the house. We got married and lived at the property for three years. Then we bought a new place and I rented the property out for four years. When the property was rented we didn’t use any community funds for the mortgage payments or upkeep.Do we simply calculate ½ the principal payments while we lived there? Do we need to do ½ the principal payments but also calculate the appreciation?
Submitted: 4 months ago.Category: Family Law
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Answered in 4 minutes by:
12/4/2017
Family Lawyer: Barrister, Lawyer replied 4 months ago
Barrister
Barrister, Lawyer
Category: Family Law
Satisfied Customers: 41,154
Experience: Attorney with 17 years experience
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

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Did you own the house solely prior to marriage?

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And you used the rental income to pay for it after you moved out?

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If both questions are yes, then I would opine that you would only have to potentially reimburse her for half of any principal payments that were made after you got married until you moved out because that is the only marital money that would have been used on the property.

.'

The house remained your separate property during the marriage so I don't think a judge would order you to pay her any appreciation on the 3 years payments, although you could offer some token amount just as a gesture of good will.

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thanks

Barrister

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Customer reply replied 4 months ago
Thank you
Family Lawyer: Barrister, Lawyer replied 4 months ago

You are very welcome. Happy to help any time.

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It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the title and the JustAnswer employees will get it to me.

.

If you feel I have answered all your questions, I would very much appreciate a 5 star rating by clicking on the rating scale on your screen as that is the only way I receive credit for my work.

.

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Thanks much

Barrister

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Family Lawyer: Barrister, Lawyer replied 4 months ago

Hello again,
.
I just wanted to touch base with you and check in.
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Did you have any further questions I can help with?
.
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Thanks much
Barrister

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Barrister
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Category: Family Law
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