QUESTION
Do I have rights to the equity of this marital property?
Asked on Jun 11th, 2016 on Divorce - Georgia
More details to this question:
I need to know if I have equity rights to the marital property that my family has lived in for the past 3 years or so. My husband and I went through Bankruptcy several years back. His parents purchased a home for us using a CD as collateral until we were able to finance the home in our names. Turns out we are getting a divorce after 23 years of marriage. My husband and I have paid the mortgage payment (comes to the house in his name), 100% of the property taxes and full-coverage replacement homeowners insurance. My in-laws do not have any type of insurance on the property or property tax investment.
1 ANSWER
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M. Todd Hampton, P.C.
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There is no easy answer to this. It could be considered a conditional gift of some sort, or even separate property if the parents gave it to him. If you're going through a divorce, it would help a lot to have a lawyer represent you in this.
Answered on Jun 17th, 2016 at 12:09 PM