Q: In Virginia, is a mortgage, after separation date, considered a marital debt, including Principal, Interest, and tax?
Wife abandon the marriage and left for me to take care of the mortgage (principal and escrow). She is living in a mortgage free home in an other area. Am I entitled to be credited/reimbursed any of the mortgage or will I be responsible for the full cost.
Also does all of the equity, including the value of the property from the time I made sole payments for the mortgage, be given to me?
A: Debt accrued during the marriage, such as a mortgage, is considered marital and is distributed equitably in a divorce. This also applies to the division of equity. Equitable does not mean “equal”. It means fair. To make an equitable division, courts generally consider each party’s separate contributions, including contributions before marriage, after separation, and contribution from “separate” funds. Courts also consider non-monetary contributions, such as time and effort spent maintaining the home, as well as many other factors, such as the overall division of assets in the divorce, award of spousal support, etc. It is important to consult with an experienced divorce attorney to discuss your particular situation.
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