Suppose you have a divorce case in which:
• both spouses have vacated the marital home and it is for sale
• anticipated equity after payment of 1st & 2nd mortgages is ~$200K
• parties have determined that equity should be split
60% to spouse A
40% to spouse B
• one spouse is making payments on both mortgages until the house sells
• equity split is to be adjusted after sale to retroactively make current interim mortgage payments shared 50:50
Should adjustment to even out burden of current mortgage payments be made before or after the 60/40 equity split?
In other words, after the sale occurs:
should the spouse currently making both mortgage payments be reimbursed from the equity for those payments and then split what's left 60/40?
should the equity be split 60/40 first and then have the spouse who made all the payments be reimbursed for 50% of those payments?