My wife and I are getting divorced and we have our first mediation session next week. We’ve been married for 3 years and we rent our place in Danvers. I purchased a ski condo in NH while we were dating, the place is in my name only. Throughout our short marriage she did contribute financially to the monthly mortgage and it’s expenses. Before we go into mediation, I’d like to know if I will somehow have pay her back the equity she put in to maintain sole ownership?
The intent and spirit of mediation is that you and your wife are able to arrive at a fair and equitable agreement relative to the financial aspects of your marriage. “Contribution” is one of the factors that are looked at in determining how assets should be fairly divided. Since you acknowledge that your wife has contributed to the mortgage and expenses during the time of your marriage, it does seem reasonable that she be compensated for the contribution she has made. With the help of the mediator, you and your wife can figure out what the compensation should be and how and when it can be repaid.
Danvers Divorce Mediator, Attorney Mediator Tracy Fischer provides divorce mediation services including division of property to individuals and families in Danvers and in the surrounding communities including: Topsfield, Wenham, Beverly, Peabody and Middleton.