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akaem
recently joined

Reged: 02/06/05
Posts: 5

N.Y. property

#9886 - 03/04/05 09:25 AM

Hi All,
I live in N.Y.and have a? All martial assets are split equally in n.y right? The reason for this ? is I went to court yesterday and heard the judge who was speaking to both attorneys say "well he is letting your client live in the martial residence". I have 2 kids which will live with me and the child support will end up paying the morgage which in turn will be building up the equity in the home so in 7 years when the house is sold there will be more of a profit so I guess I am wondering just where exactly am I "profiting" from being able to keep my kids in their home?? We purchased another home (vacation)and I certainly do not want judge to give him that 1 while I maintain the home lived in on a daily basis only to have to split the profits when it comes time to sell. Seems to me that the STBX is profiting more as he will be getting most of his child support back. I get the feeling that the STBX will be making out better in this divorce than I am.We have been married 20 years on April 28 and STBX does not want to pay any spousal support. He makes $130,000 and I make $30,000.His child support will be 2708 per month, the judge will award me some ss right???

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aussie928
old hand

Reged: 10/29/04
Posts: 969
Loc: Dallas

Re: N.Y. property

[Re: akaem]
#9898 - 03/04/05 01:52 PM

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

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akaem
recently joined

Reged: 02/06/05
Posts: 5

Re: N.Y. property

[Re: aussie928]
#9942 - 03/05/05 08:34 AM

Thanks Aussie yes it does. New dilema I just now found out he had the taxes done yesterday. Does anyone out there know if he can have the checks electronically deposited in an account with just his name or do they have to go into the 1 joint account we have left???

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