Examples of Property Division
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PROPERTY DIVISION
EQUALIZATION WITH ASSETS
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ASSET |
VALUE |
SUBTOTAL |
AWARD TO WIFE |
AWARD TO HUSBAND |
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1.01 US Bank checking |
6,000 |
6,000 |
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1.02 Norwest bank checking 10.3 Norwest money market 1.04 US Bank |
11,000 26,000 470 |
37,470 |
9,851.50 |
27,618.50 |
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2.01 Amer Express 401K |
5,000 |
5,000 |
5,000 |
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2.02 Stock |
22,700 |
22,700 |
22,700 |
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3.01 Homestead Value First mortgage |
162,000 -105,222 |
56,778 |
56,778 |
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4.01 1994 Jeep Cherokee |
10,350 |
10,350 |
10,350 |
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4.02 1995 Toyota Corolla |
7,800 |
7,800 |
7,800 |
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5.01 18' Sylvan boat |
3,300 |
3,300 |
3,300 |
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6.01 Fidelity equity Inc. IRA |
6,900 |
6,900 |
6,900 |
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7.01 Household goods |
7,000 |
7,000 |
7,000 |
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8.01 US bank VISA balance Citibank VISA balance |
-480 -15 |
-495 |
-495 |
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8.02 Citibank and AT&T |
-5,000 |
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8.03 Mastercard |
-6000 |
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TOTALS |
72,901.50 |
$72,901.50 |
PROPERTY DIVISION
EQUALIZATION BY REFINANCING MORTGAGE
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ASSET |
VALUE |
SUBTOTAL |
AWARD TO WIFE |
AWARD TO HUSBAND |
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1.01 US Bank checking |
6,000 |
6,000 |
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1.02 Norwest bank checking 10.3 Norwest money market 1.04 US Bank |
11,000 26,000 470 |
37,470 |
9,851.50 |
27,618.50 |
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2.01 Amer Express 401K |
5,000 |
5,000 |
5,000 |
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2.02 Stock |
22,700 |
22,700 |
22,700 |
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3.01 Homestead Value First mortgage |
162,000 -105,222 |
56,778 |
56,778 |
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4.01 1994 Jeep Cherokee |
10,350 |
10,350 |
10,350 |
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4.02 1995 Toyota Corolla |
7,800 |
7,800 |
7,800 |
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5.01 Household goods |
7,000 |
7,000 |
7,000 |
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6.01 US bank VISA balance Citibank VISA balance |
-480 -15 |
-495 |
-495 |
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7.01 Citibank and AT&T |
-5,000 |
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7.02 Mastercard |
-6000 |
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TOTALS |
$63,301.50 |
$72,901.50 |
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| Difference between Property Values | 72,901.50 - 63.301.50 = $9,600 | |||
| Amount Paid by Mortgage Refinance to Equalize | $4,800 | |||
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