Does traceable separate property include appreciation, if it was subsequently commingled and transmuted during a marriage?
New York, NY |
Defendant received a check made out to the Defendant's name from her Mom during the marriage. It was used to purchase property held jointly during the marriage. It was sold for a profit. The proceeds were used to purchase two other properties and an investment account also during the marriage that have not been sold. The couple has since divorced and are currently in litigation. Is the Defendant entitled to the appreciation on the original sold property and the appreciated value of the subsequent properties and investment account?
The separate property gift check represents 40% "seed money" of the original property purchase. I would like to know if that 40% separate property and the appreciation of it as well as 40% of the subsequently purchased properties would be separate property.