Retired man sitting in a chair looking out the window

A 63-year-old man and his 56-year-old wife are divorcing after 10 years of marriage. She wants to sell their home and split the profit evenly, but he believes most of the value came from his money and his work.

The house was originally a rental property he bought through his business. Now it’s expected to net about $450,000 after closing costs, and the two can’t agree on what a fair split looks like.

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A Career in Rental Properties

Eleven years ago, his full-time work was buying homes, renovating them, and renting them out. He owned five properties ranging from low-income housing to homes in suburban neighborhoods.

All of them were held in his LLC, and he ran it as a real business. It wasn’t a hobby or side income, it was his livelihood.

A House Bought Through His LLC

Around that time, he was buying his most expensive property yet. He expected it to bring in $2,000 to $2,500 a month in rent once it was ready.

The house needed major work first. New floors, drywall, electrical upgrades, and other repairs had to be done before it could be leased.

A Place to Stay During Her Divorce

That’s also when he met his future wife. She was going through a difficult divorce and had three children at home, ages 12, 14, and 20.

He let her move into the newly purchased house without charging rent, and she paid the utilities. Otherwise, she would have moved out of state to live with her sister, uprooting her kids.

A Renovation That Became a Home

What started as a temporary arrangement turned into something more. They fell in love, married, and have lived in the house for more than 10 years.

The rental income he expected never happened. Over a decade, $2,000 to $2,500 a month adds up to roughly $240,000 to $300,000 in rent he gave up.

Upgrades Paid for Over a Decade

The home originally cost $172,400. Over the years, he poured money into improving it.

He added an air-conditioned library, a fifth bedroom, a butler’s pantry, new floors including tile and hardwood, new appliances, and a new HVAC system. He also installed a $21,000 whole-house generator, a large deck with a hot tub, landscaping, exterior lighting, a high-end security system, 900 feet of cedar fencing, and a heated saltwater pool.

He says his wife spent less than $500 on home improvements. To him, nearly all of the home’s added value came from his investments.

Raising Her Kids

He also helped support her children. Their father stopped paying child support, so he stepped in to help care for them.

Raising three kids is expensive. Food, clothing, school costs, and everyday expenses can add up to thousands of dollars a year, and he covered much of that during their marriage.

A 50/50 Split She Wants

Now his wife wants to sell the house and divide the roughly $450,000 in profit equally. He thinks that’s unfair given how much he invested.

His proposal is to subtract all of his costs first and split whatever equity is left. Under that plan, she’d receive about $25,000.

Divorce rules can be complicated, especially when property was bought before marriage or through a business. Whether the house is treated as separate or shared property could make a huge difference in how the money is divided.

The Last Asset He Has

At 63, he says this home is the only major asset he has left. He worries about rebuilding financially at his age.

His wife has relatives she could live with, while he’s the last surviving member of his family. He’s left wondering whether his offer is fair, or whether a decade of marriage means the house belongs to both of them more equally than he wants to admit.

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