Can I Use Home Equity to Finance My Divorce Case?
Question: If I don’t have a lot of money but have substantial home equity, and really need a good attorney, can I somehow leverage my home equity to afford a good attorney?
Answer: In Utah, it is possible to leverage your home equity to help you cover the costs of your attorney and divorce litigation costs. Possible, but not an absolute right.
If, after moving the court for permission, you can show the court:
- that there is equity,
- that a portion of it clearly should be awarded to you,
- that tapping the equity for your benefit won’t unduly harm your spouse, and
- that you have a need (or a compelling reason) to utilize the home equity to help you cover the costs of your attorney and/or other divorce litigation costs, your chances of having your request granted are very good.
Utah Family Law, LC | divorceutah.com | 801-466-9277