my husband and i are getting a divorce. i owned the house before i married him but still have a mortgage. Is there a formula on how to decide how much money each person is entitled to. I live in Mass.
Usually this depends on the length of the marriage with consideration for the time you owned the house before the marriage. There are other factors iinvolved including the contribution to the house. Massachusetts is only good on formulas when it comes to child support, a distant second is spousal support, and finally, if at all, division of property and debt.
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This is an issue that requires discussion and review of the document to get the full context. Usually this is done in a consultation with an attorney in which you show up with the documents and share the information that would be helpful to such a discussion.
You should have your own legal representation as the statutory law does not clearly set out your rights and obligations. Generally, where the enjoyment of the property and obligation of payment was shared by the spouses then there is some accounting of the appreciate equity in the divorce proceedings, but that can vary on the specific facts of your case. You should have your own independent attorney.
It depends. That's the favorite lawyers answer! On many different factors, unfortunately there is no formula for property division in Massachusetts. It depend on your other assetts, child custody, length of marriage etc. You should consult with and retain counsel to assist you in this matter.
