My wife and I are getting divorced and she has indicated that she would like to take on the house. There is a 60k mortgage on it. 15k of that is as a result of debt consolidation in that my debts were added to the amount we borrowed from the bank because it made it more managable.
If the wife does take on the house can she ask that the 15k that was added be given back to me or is the fact that the mortgage is 60k end of story?
She can say anything. She could say that you pay her the 15k and thats that. You walk. I wouldnt. I would sell the house to her. You are entitled a percenatge of the equity. You dont say anything about kids or how long the marraige was. If its a short marriage and no kids you are entitled to about 50% of the equity. I would get legal advice. You could be walking away from a lot of cash. You may need this cash to setup a new home. Chris.