Jacksonville, NC asked in Divorce and Family Law for North Carolina

Q: How is property division calculated/split if we owe the bank and we are selling the home?

I was given temporary possession of the home. At property division when calculating can I ask for half the amount I paid towards the mortgage? How would I calculate the split if we owe say $200,000 at separation but 10 months later only owe $100,000 due to my monthly payments? If I agree to stay in the home until our child graduate HS would I loose more? The home would be paid off by then and I still would have to move out and sell it and split it equally. Is that how it would work? Im just not sure what my best option is to do. Seems like I'm lowering the mortgage while he still gets half. Can we split all other things equally and let the court do the property part?

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1 Lawyer Answer
Amanda Bowden Johnson
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Answered
  • Jacksonville, NC
  • Licensed in North Carolina

A: Who says he has to get half? If you are working out a division yourselves you can calculate it anyway that seems fair to you and that you can both agree on. Anything that you can't agree on the Court can decide but if you really think about it having the Court involved in your personal business is usually not a smart thing to do. Basically all you are doing is hiring and paying strangers often large amounts of money to decide things you could decide yourselves for free. Best of luck.

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