| aussie928 |
| (old hand) |
| 03/04/05 01:52 PM |
Re: N.Y. property
|
G'day luv...I cant tell you whether or not you will get SS...as to the house and being allowed to stay in it. I cant speak for NY laws...but I can tell you in most cases...if you are allowed to reside in the marital home until the wee ones turn 18 then his share of the equity is based on the appraised value at the time he moves out not when it sells (again this is if he is NOT making the mortgage payment.
So lets say the value of the equity now is 50K...his share is 25k. When the house is sold when the wee ones are 18..or you keep the house and are required to pay him his equity then...and the equity is then 150k...his share will still be 25k Does that make sense