? about what I may "owe" my husband...

4 posts in this topic

Almost a year after we married, I purchased a home - partially with the proceeds from the sale of my former house (premarriage) and borrowed the remainder from a Trust that I have. The home was in my name only as suggested by my family atty. at the time and I have always paid the real estate taxes and anything major that occurred with the home with my own money and we both live in the house. My husband put NO money towards the purchase of the house.

The loan from my Trust was in my name and is being paid back with interest. The agreement between my husband and I was that he would actually pay the loan back (albeit from our joint account) and he was satisfied with that arrangement and not having the home in his name.

Well, things have gone south and I have asked him to leave. He was agreeable to that and set about finding another place to live.

Then he started telling me how much I would OWE him for what he has paid towards this house and what he calls "improvements" to the house.

He has amassed a lot of debt on his own and I went to speak with an atty. to find out if I would be responsible in any way for his current debts or this new house that he was going to buy. She advised me that I would not and she DID tell me that there was a formula used in WV to determine what he might get back because of the payments that he did make on this house. I THOUGHT she said it was 2% of what has been paid on the principal of the loan and that was divided in half.

I just learned yesterday that $24,000+ has been paid towards the principal of the loan and utilizing that equation you come up with a ridiculously low number - something like $400+. Obviously I've gotten this messed up!

About 4 years ago I had filed for divorce because of adultery and she used figures she had from before and ballparked it around $12,000.

Does anyone know what that formula really is in WV....I really don't want to call this attorney back because it would just be more $$ and at this point I don't need her for anything else.


I suppose I should add too that although I filed for divorce, I ended up letting him come back so we did not divorce and are currently married now.

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First thing you have to understand is the difference between ownership and marital interest.

You own it, he has a marital interest.

Generally he would be entitled to the equivalent of half of the equity that has accrued in the home during the marriage. Generally doesn't necessarily matter who paid what toward the house or where the money came from, the starting point is half of the equity.

There might be certain adjustments available and there is certainly an opportunity to negotiate based on who wants what from whom.

It's possible that the money you used from the proceeds of your former home could reduce his percentage but I don't see where the loan from the trust has anything to do with anything. Especially, if the loan from the trust isn't secured by the property.

I don't know anything about a formula but you can read the WV Code regarding Equitable Distribution of Property and see if that explains it better or different from my comments.


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To FINDLAW_AHK - my legal issue is perhaps not LEGAL yet since we intend to simply separate but my question is, in a DIVORCE - what amount of money would I "owe" him from his having made payments towards the loan. IF it's half the equity - that's one thing.

I DO know when I sat down with my atty. to ask this and some other questions, she said there was a formula that was used by the family law judge...that's what I was trying to find online and couldn't and then posted the ? here. And it was because of the circumstances surrounding the purchase of the home and the fact that my Trust does have a lien on the house that this "formula" came in to play.

adjuster jack - Thanks for the link, I will definitely check that out. I do comprehend the diff. between ownership and marital interest and understand that he DOES have some interest in this house. What I'm trying to do in this separation is to be fair and repay him whatever amount of money it is that he would receive IF we were in a divorce scenario and then some. Ultimately it serves my interests because he's buying another house and who doesn't need extra money when doing that? and by doing so, he perhaps would vacate sooner.

My Trust DOES however have a lien on the house...so the loan IS secured by the property.

Thank you both for your responses.

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