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Home equity in a Nevada divorce.

1 Answers. Asked on Mar 21st, 2017 on Family Law - Nevada
More details to this question:
My wife bought a home on her own 10 months before we were married for 110,000 in oct 2013. We were married in aug 2014 My name is not on the mortgage. For the past two years she has not worked because she is a stay at home mom and depended on my income to pay the mortgage. We are now getting divorced. The house is now worth 220,000. We owe 75,000. Am I entitled to half the equity even though my names not on the house? We live in the state of Nevada. Thank you very much.
Answers Showing 1 out of 1
Answered on Mar 22nd, 2017 at 9:40 AM

Unless there are some facts not dislosed, this is a classis Malmquist situation; both parties have an interet, but it is not "half":

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As to apportionment of the house equity, the Court adopted a modified form of holding of the California Supreme Court in In re Marriage of Moore, 28 Cal.3d 366, 168 Cal. Rptr. 662, 618 P.2d 208 (1980).

Setting forth a series of detailed mathematical formulas, the community property appreciation share equals the amount by which community property mortgage payments reduced the mortgage principal, divided by the original contract purchase price of residence.  That fraction is multiplied by the total appreciation to yield the final community property share in the appreciation.  The unpaid mortgage balance is essentially credited between community and separate property according to a time rule, depending on the total number of payments made rather than the principal actually paid down in each mortgage payment.

The Court held that, normally, improvements must be separately apportioned from equity formulas, and that usually simple reimbursement without interest is the proper measure for both separate property improvements to community property, and for community property improvements to separate property.

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As you can tell, the math and legal concepts areq quite complicated.  A furthr explanation and even worksheets for doing such calculations are posted here, but it is in your best interest to consult with a family law specialist well-versed in this subect area, because even most lawyers do not really understand how all of this works.

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Family Law
A family law attorney can guide you through the many legal issues facing couples, parents and their children. Family law lawyers can work with individuals who are engaged or married to create pre-nuptial agreements and post-nuptial agreements. Family law attorneys will also work with individuals and couples seeking to start or grow a family through adoption. And law firms can work with individuals who are getting divorced to negotiate a divorce agreement, including alimony, palimony, the division of property and debts, child custody, child support and visitation.
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