How do I calculate equity on years I was married?

Get Legal Help Today

 Secured with SHA-256 Encryption

How do I calculate equity on years I was married?

I bought a house in October 2014 for 110,000. I married September 10 2016. Filed for divorce, August12, 2019. My name is on the deed and not my husband. I know he is entitled to equity of the house during the years we were married. How do I calculate this. The assesser valuated the home as
2016 96,875.00
2017 94, 402.00
2018 94,402.00
2019 111.961.00
Can I use the county assesser’s appraisal? and how do I do it?

Asked on September 3, 2019 under Real Estate Law, Colorado

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 1 year ago | Contributor

It is far from clear that your husband is entitled to the equity in the house, since you bought it pre-marriage. At most, he may be entitled to the increase (if any) in equity during the time you were married in proporation to the amount of the mortgage, taxes, and other costs he paid (i.e. if you paid the house's carrying costs by yourself, he would likely be entitled to nothing). So using the county assessor's valuations, if it went from $94k when you were married to $112k today, if he paid (roughly) half the costs during that time, he'd be entitled to 1/2 the $18k increase, or $9k.
You use them by presenting them: if you can, get certified copies of the appraisals, or at least something in writing from a county employee confiming they are accurate. (If you end up in court over this, you may need the employee to come to court and testify to confirm you have "true" and accurage copies.)


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption