Legal Question in Family Law in Illinois
Equity in a home during divorce
My soon to be ex-husband moved out of our house on 1/1/05. Since that time I have paid the mortgage ($1,132.45/month) on my own. I have also been approved to refinance the home in my name alone once the divorce is final. He is requesting that I pay him half of the equity in the home, that he gets our snowmobile, jetski, two vehicles and his tools. My question is: Since he willingly left the home and got an apartment, and I have been the one making the mortgage payment without any help from him, can I request that he be responsible for half of the mortgage since the time that he moved out? Also, in Illinois, when the home has been appraised ($165,000.00) and the balance when he left ($149,000.00), am I able to deduct the 6% that the realtors would charge if the home was sold when figuring out the equity that he is entitled to?
1 Answer from Attorneys
Re: Equity in a home during divorce
Hello. Under the circumstances it is quite likely that a judge would order your husband to
contribute to the mortgage. In many cases the
court makes decisions on a case by case basis
depending upon the income of each party and other
facts. Now on the issue of equity, you and
your husband can reach an agreement, or the court
will determine the percentage of equity that your
husband (may be due) when a trial is held. In
many instances the broker's fee is allowed to
come off the top. Of course the court will take
into consideration the fact that your husband has
obviously sat idle while you have done all the
work. I will be happy to answer any additional
questions that you might have. There are other
issues to consider as well.
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