I inherited a home from my mom when she passed. I resided in it with my children until I remarried. I sold this home and used the full amount, 50% of the 240,000 new home which was 120,000. The man I married had nothing to put down. Now that I'm divorcing, is it true that this is legally my home because of my down payment? I have all papers of proof.
Unfortunately, this man gambled behind my back and lived a life I wasn't aware of. I had no children with him and was married 25 years. He is trying to make me lose my home by foreclosure. Ours is a very complicated divorce to explain . We both worked and have a business together that he is trying to show makes no money since I left him. He has been very spiteful and vindictive since I left him because of abuse and learning of his life. I've been going through the divorce for over a year. I was curious about the home because a source told me if I put more then 50% down on my inherited home that I owned with my young children at the time, but not his children prior to my marriage, the home is legally mine. But it seems so complicated. Thank you for your responses.
The Court will have to determine that. There are a number of factors to be considered, such as whether he paid for the mortgage and other expenses. There is a strong chance that a Court will find that you are the legal owner of the house, but that depends on the totality of all the facts and circumstances. But even if you are the legal owner of the house, he could still get 1/2 of any increase in value that occurred during the marriage.
Without meeting with you, and knowing all the facts and circumstances of your case, my opinion is not to be construed as legal advice, just general educational information.
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This really isnt a probate question so I have recharacterized it for you. You are correct that the inherited property is your separate property. How NJ marital rights interplay once you get married I will leave to a NJ divorce attorney to respond.
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I agree with my colleagues. As they have indicated, there are a number of factors. How was the home titled? What has happened since the house was purchased? Have you both contributed to mortgage payments, taxes, insurance, maintenance, upkeep, renovations? You have an argument that at least a certain portion of the value should be considered to be yours. A judge can handle this a number or different ways, however. You need an attorney to make sure your rights are protected.
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Divorce / Separation Lawyer
It's not that simple but, the short answer is, you may, at least, be entitled to get your money back before he share any profit. All assets in a divorce case are divided under equitable distribution. Equitable distribution is the principle that divides assets and debts. This does not mean equal distribution but, instead, is determined by the court after considering a number of factors. Some of these factors include, but are not limited to, the length of the marriage, the contributions of both parties to the acquisition of assets and debts, the ability of the parents to earn once divorced, childcare responsibilities of either parent come, any other assets available to contribute to support, and any other factor that the court considers relevant.
Despite these issues, the equitable distribution of assets and debts in a divorce case are commonly equal because there rarely reasons to deviate. Some common reasons to deviate are unequal contribution to the acquisition of assets and debts, a grossly disproportionate ability to earn support once divorced and other reasons deemed equitable by the court.
Accordingly, I believe the distribution of the ownership of the house would go in your favor.
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It depends on a number of factors. Whose name is on the deed, who made the monthly payments, etc. Get yourself an experienced divorce lawyer.
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