Legal Question in Family Law in Kansas

Divorce division of assets
My wife had a lengthy affair. We have stayed together in the home with our two teen daughters to work on the marriage. However, I believe it is inevitable that we will move to separation and divorce.

I would like to keep the house. The estimated value is $190K. There is a first mortgage of $110K (in both our names), and a home equity loan of $50K (in both our names).

I am assuming that, in order to keep the house, I am assuming that I would need to pay her $15K (see my calculations below).

The estimated home equity is $80K. Her half is $40K. Subtract her half of the home equity debt ($25K), leaves a balance of $15K. I would then own the house, but be liable for the mortgage ($110K) and the home equity loan ($50K).

Is my thinking correct on this?

Thank you for your help.

Asked on 5/03/09, 12:17 pm

Rian Ankerholz Ankerholz and Smith

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0 attorneys agreed

Re: Divorce division of assets

The payment might be somewhat lower with costs of sale deducted. See an experienced family law attorney.

Answered on 5/03/09, 7:21 pm

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