Legal Question in Family Law in Utah

Figuring Equity in the marital home

My husband and I were married in Nov 1999. I moved into the home he already owned when we married with my two children. In 2000 we re-financed the home and put both of our names on the title and loan of the home. We are both employed, he makes about $5000 per year more than me.

We have been separated since Dec 03 and are going ahead with the divorce. I was the one to move out. I don't want the home but I would like to know if I have any claim to any equity in the home. Is there a formula used to figure the equity in the home and how it is then divided?

Thanks


Asked on 2/24/04, 3:56 pm

2 Answers from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Figuring Equity in the marital home

Generally the procedure is to obtain an estimate of the value of the home at the time of the marriage and again at the time of the final day of the marriage (near when the judge signs the final order). The first amount is subtracted from the last, then divided by two.

Income does not play a factor, except to determine support. The alimony factor uses a similar technique, one half of the difference between your incomes. Child support is figured from a schedule, and is also based on your incomes.

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Answered on 2/24/04, 4:17 pm
Edward Stone The Stone Law Firm

Re: Figuring Equity in the marital home

Generally speaking, the equity in the home earned during the marriage i.e. from the date of marriage until the date of divorce is split 50/50, although there are a multitude of circumstances that could persuade the court to deviate from a 50/50 split.

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Answered on 2/24/04, 4:54 pm


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