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Arbitration

In arbitration, a neutral third party called an arbitrator hears arguments, reviews evidence and makes a decision. This is different from mediation, where the parties, not the mediator, make the decisions. There are two kinds of arbitration: binding and non-binding. Binding arbitration - parties agree in advance that they will follow the decision of the arbitrator. Non-binding arbitration - parties agree in advance that they will be advised by the arbitrator's decision, but do not have to follow it.

Question: arbitration? I have won my case against my ex-boyfriend....his attorney and him are basically dropping their claim against me that we are common law married......which is just the best thing that has happened to me in a long time. now we will go through arbitration for the house to be sold and who gets what money out of it. has anyone ever gone through any arbitration and what can i expect to happen? I've never been through any thing like this before, so i'm not sure what to expect. I do have the best attorney in town, so i'm probably going to get what i want....

Answer: Well, arbitration is like an informal court procedure. The arbitrator is selected by the parties or appointed by a judge based upon his/her expertize in the appropriate area of the law. The proceeding are quite relaxed compared to court, although I'd still advise looking your best. I'm a great believer in 1st impressions. What is likely to happen? Since you are not married, your relationship will be treated like a business partnership and the profits from the sale of the house divided pursuant to the contributions of each party. Of course, these contributions are more than just financial mortgage payments. Who kept the house in a good state of repair? Who did the brunt of the housework? Who did the most to contribute to an increase in the value of the home?

 


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