Legal Question in Family Law in Maryland
My wife and I separated at the end of June 2011. She stayed in the house and I did not feel that I should have to make monthly mortgage payments for a house which I was not allowed to step foot in to. I told her this and she said that was fine as long as I gave her my key and agreed not to come there.
Now that we are finalizing our separation agreement, she is trying to deduct $1,000 a month from the equity that I'm owed for each month that I didn't live there. Should she be able to deduct $6,000 from the half of the money she owes me? I don't see how this is fair. When we separated I was jobless and she helped me with nothing. Why should I have to pay for something which I had no access too and which we agreed I wouldn't pay for?
1 Answer from Attorneys
Your wife's position is that since you haven't contributed to the equity since you left, you should not be entitled to share in any increase in that equity since then. However, it's highly unlikely that the equity is growing that fast. You need to consult with an experienced family attorney in the negotiation of this agreement. You should determine the fair market value of the property as of the date of your separation, either by agreement or by having an appraisal done or a market analysis by a realtor familiar with the neighborhood. Then subtract the balance of your mortgage(s), as of that date to compute the equity. If she is going to buy you out, she should refinance and pay you half that amount. If she can't do that, then agree on a deadline for selling the property. An attorney who's negotiated these agreements before will know how to insert language in the agreement that protects your interests.