liberate78
recently joined
Reged: 01/13/13
Posts: 1
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About 3 years ago, my husband and I bought a house. However, the down payment on the house came from money that my mother left me after she passed away. This money was never in an account in his name and was never used for the marriage until the purchase of this house. Now, he is trying to get 50% of this equity. Is it still marital property, since the money was used on a house that we bought together?
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Renny
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Reged: 09/24/11
Posts: 479
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The answer depends on what stte you live in. Assuming its an equitable distribution state, although the home is marital property, you should be entitled to take the gift down payment off the top before dividing the equity. If there is no equity, your gift down payment is gone. If there I some equity, you may get most of that.
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