Divorce Source: Home Ownership

Encyclopedia

Checklists

Tools

Downloads

Bookstore

Start Your Divorce Today - Premium Divorce Online

You are not logged in. [Login]
NEW USER Registration

DS Home · Community Forums · All Forums/Msg. Centers
NEW USER Registration · Search Community Forums · Help

State Specific Community Forums >> Illinois Issues

Jump to first unread post.

Pages: 1

julia37
recently joined

Reged: 01/24/13
Posts: 2

Home Ownership

#798895 - 01/24/13 07:53 AM

Hello, In the process of a possible divorce. Our home was purchased by my spouse a couple years before we were married. Not paid for, but traditional mortgage. My name was never added to the loan, We married almost 7 years ago. What are my rights in a divorce as to our home? Thank You, Julia

Post Extras:

javajunkiee
Carpal \'Tunnel

Reged: 06/01/08
Posts: 3158
Loc: SC

Re: Home Ownership

[Re: julia37]
#798968 - 01/25/13 11:49 AM

The standard (unless other agreements are reached) is half of the equity that has accrued during the length of the marriage. If it is worth less than is owed you're also entitled to half the loss you would take if it were sold.

--------------------
Marriage doesn't come with a money-back guarantee.

Post Extras:

julia37
recently joined

Reged: 01/24/13
Posts: 2

Re: Home Ownership

[Re: javajunkiee]
#799009 - 01/27/13 07:12 AM

Since it is not in my name, does that mean my husband automatically gets the house and then pays me the half equity since our marriage or do I have any rights to the house?
Thanks

Post Extras:

BeachBabeRN
Carpal \'Tunnel

Reged: 01/16/06
Posts: 3049
Loc: VA for 21 years, NC forever!

Re: Home Ownership

[Re: julia37]
#799038 - 01/28/13 03:50 PM

Might want to make sure there's positive equity in the home prior to asking for any share of it -- if there's no equity to divide in the event of a sale, you'd then be liable for half the loss.

Good with the bad, right?

Post Extras:

MinnesotaMom
member

Reged: 01/05/11
Posts: 187

Re: Home Ownership

[Re: julia37]
#799040 - 01/28/13 04:51 PM

If you are better able to pay him his share of the equity and take over the mortgage, that is always a possibility, if that's what you mean.

Post Extras:

Pages: 1

Extra information

0 registered and 1 anonymous users are browsing this forum.

Moderator: dsAdmin

Print Topic

Forum Permissions
      You cannot start new topics
      You cannot reply to topics
      HTML is disabled
      UBBCode is disabled

Rating:
Topic views: 268

Jump to

Divorce Source Home

UBB.threads™ 6.5.1.1

Resources & Tools

	Start Your Divorce Several Options to Get Started Today.		Online Divorce Tools Keeping it Simple to Get the Job Done.
	Download Center Instantly Download Books, Guides & Forms.		Discount Books Over 100 of the Best Divorce & Custody Books.
	Negotiate Online Settle your Divorce and Save.		Custody Scheduling Make Sure You Document Everything.

Easily Connect With a Lawyer or Mediator

Have Divorce Professionals from Your Area Contact You!