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  1. #1
    Join Date
    Feb 2013
    Posts
    1

    Default Division of Assets in Divorce With an Underwater House

    My question involves a marriage in the state of: CA

    Wife has verbally indicated that she will not ask for any portion of house (225k mort. on 175k value)
    If we use help-u-file.com can we just not declare it on self-prepared forms, or does the court take a dim view of that?
    Would I be required to (short) sell the house even if she agreed to ignore it, or could we both specify that she will not contest the house?
    Does the 50k underwater portion of the house debt affect how much I would need to pay her for the house, if required?

    Also, if my wife makes 20k (95k vs 75k) more than me, can I use that as a bargaining chip to avoid splitting unequal assets?
    Would I be able to ask for alimony and how much? (1 Stepdaughter age 20, her daughter)
    My assets: ~200k retirement accounts plus house with underwater mortgage.
    Hers: ~100k retirement plus 20k stake in an apartment.


    Finally, if I do not agree to the divorce, what can she do to force me to accept it?
    Sorry, lots of questions.

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Division of Assets in Divorce With an Underwater House

    You don't pay someone for an underwater house. It is a liability to be deducted as any other debt would be.

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Division of Assets in Divorce With an Underwater House

    If the house has negative equity, your spouse's "share" is half of that excess debt. You want to take the house and all of the debt, -$50K in your pocket?

    Generally speaking, courts are happy when people reach amicable settlements of how they are going to divide their marital assets.

    You are free to use whatever you want as a 'bargaining chip'.

    Why do you imagine you would be entitled to spousal support, given your income and assets?

    You don't get to stop your spouse from divorcing you. If she wants a divorce, she'll get one.

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