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Topic: Divorce question (Read 1313 times)
DWL
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Posts: 3
Divorce question
«
on:
April 04, 2006, 09:34:12 AM »
We married about 7 years ago. At that time, I sold my home and put the equity ($24,000) into another home that hubby and I bought together. I let husband talk me into putting all the money into the house (to lower the payments ect), instead of investing into retirement fund for myself. He btw has a good retirement fund for himself which he is now drawing. I am still working.
We are both near 60 years old and live in Alabama.
In the event of impending divorce, how can I get my money back ? From past experience, I am convinced he will drag his feet about selling the house since he likes it here. He draws a nice retirement but doesn't have the funds to outright pay me my share.
How can I insure upon the sell of the house that I will get whats mine ? If he chooses to fight me for it, am I entitled to a portion of his retirement ?
Thank you
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Lee Borden
Administrator
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Posts: 1202
Re: Divorce question
«
Reply #1 on:
April 04, 2006, 11:44:37 AM »
You're not entitled to share in his retirement until you and he have been married at least 10 years.
By investing your money in the marital home, you have made that money a marital asset. You would argue, however, that an equitable distribution should involve return to you of the funds you invested in the house. The judge has the prerogative to, but is not required to, order the sale of the house and the distribution of the proceeds. The judge could order that sale now, three years from now, or whenever.
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