Legal Question in Family Law in Oregon

Re: divorce legal advice

YOUR QUESTION:

under oregon state divorce law,is it 50/50 share on asset we own like house ,cars,?

ANSWER: Yes.

YOUR QUESTION:

what about debts?

ANSWER: Same thing. 50/50.

YOUR QUESTION:

how about if we only have 30 thousand in equity.

ANSWER: Full owership of the house goes to one of the parties, with a money judgment to the other for $15,000. Sometimes, the "due date" for the money judgment is deferred for a given period of time (six months, five years, or whatever), giving the party to whom the property was awarded a reasonable period of time in which to come up with the money to pay-off the judgment (either by a re-fi or sale of the property, or otherwise). But the judgment runs with simple interest @ 9% (unless the parties agree, or the court orders, some other rate of interest).

ANSWER: Yes.

LAWRENCE D. GORIN

http://www.divorcesource.com/OR/pages/ldgorin.html

Law Offices of L.D. Gorin

521 S.W. Clay St., Suite 205

Portland, Oregon 97201

Telephone: 503.224.8884

Fax: 503.226.1321

E-mail: [email protected]