[functor]

Hello, first time poster.

I'm going through a divorce right now (Married 5 years). We have a house that we bought while married. She supplied a nice down payment for it initially. I have been making more money over the last couple years, so I have been making most of the payments. There are no kids involved. We want to settle things ourselves without the need for lawyers (maybe at the very end).

Pretty much the only thing I want is half of the profit we'd make if we sold the house. Our house has appreciated in value so I figure we stand to make $70,000 if we sold it. I don't want to miss out on that.

The problem is that I don't think she can afford to pay me $35,000. What are my options? What am I entitled to?

Thanks.

PS - Divorce sucks!

[ebaines]

If you're going to split the value of the house either she has to buy you out or you will have to sell the house and split the proceeds. If she can't afford to buy you out, then you're left with either (a) sell the house, or (b) work out a deal where she pays you over time for your half (this could be tricky). What you absolutely don't want is to keep your name on the existing mortgage, as you would still be responsible if she is unable to keep up with it.

[Electrican]

you may look into a land contract, where she would enter into an agreement to pay you after the mortgage has been satisfieyed, and if you need the cash faster there are several companies out their that you can sell this contract to at less than face value to get you cash quick, and let her keep the house, but its just a thought.

[cadillac59]

Hello, first time poster.

I'm going through a divorce right now (Married 5 years). We have a house that we bought while married. She supplied a nice down payment for it initially. I have been making more money over the last couple years, so I have been making most of the payments. There are no kids involved. We want to settle things ourselves without the need for lawyers (maybe at the very end).

Pretty much the only thing I want is half of the profit we'd make if we sold the house. Our house has appreciated in value so I figure we stand to make $70,000 if we sold it. I don't want to miss out on that.

The problem is that I dont think she can afford to pay me $35,000. What are my options? What am I entitled to?

Thanks.

PS - Divorce sucks!

One option is to sell the house and divide the proceeds. That, or trade off her interest in some other property that you keep (like a retirement account of yours) to effectuate a buy out. This presupposes she cannot afford an outright cash buy out.