Divorce Source: Future Value of Inheritied Property

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spinnerdegrassi
Carpal \'Tunnel

Reged: 08/20/06
Posts: 7947

Future Value of Inheritied Property

#149354 - 09/23/06 12:00 PM

Say one inherits a house and a specific amount of cash.

The funds stay in only the beneficiaries name (they're not comingled) and the house also stays in the beneficiaries name. Fast Forward, divorce is pending. Has the appreciated value of the home, and the increased value of the funds (been sitting in an investment account) counted as maritial property, or do all gains in this instance still tie only to the inherited property, and remain separate.

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jaiye
old hand

Reged: 10/27/05
Posts: 860

Re: Future Value of Inheritied Property

[Re: spinnerdegrassi]
#149572 - 09/24/06 12:13 PM

No it would not be marital as long as it was never co-mingled

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Gecko
Carpal \'Tunnel

Reged: 06/01/04
Posts: 19803
Loc: Third rock from the sun

Re: Future Value of Inheritied Property

[Re: spinnerdegrassi]
#151995 - 09/30/06 05:24 PM

The funds...so long as they were NOT co-mingled...remain as "sole and separate property" of the person who received it.

The house...that is going to depend on what was done with it. If the house was rented out and the monies gained on the rental put into a separate account and NOT co-mingled AND no marital funds were used towards it...then it is sole and separate property. But if ya'll moved into the house and it became your primary residence, then the other party would have equitable "interest" in the increased value of the home during the time of the marriage. So say you inheirited the house ten years ago and it was value at $150,000 and ya'll moved in and here it is 10 years down the road an ya'll are getting a divorce and the home is how worth $300,000, then ya'll would have to split the $150,00.

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