QUESTION
When selling a house for a divorce, if a down payment was made, does the person get it back before house is split up?
Asked on Dec 29th, 2013 on Divorce - New York
More details to this question:
Mother in law lives downstairs and put down payment on house, husband is saying that she gets that back first, then split the house and she (MIL) gets 1/2 and they split the other half (the husband and wife getting a divorce). What's the law say?
2 ANSWERS
Yes, under most circumstances.
Answered on Dec 30th, 2013 at 3:34 PM
Divorce Attorney serving Astoria, NY
at
Richardson Legal PLLC
Update Your Profile
The answer really depends on the down payment: was a gift to you and your husband, or just a gift to your husband? Generally, any equity put down from one person will be credited back first before the remaining equity is divided. It sounds like your MIL put down some money and lives in the house, making payments, and she may be an owner of the house with you and your husband, in which case she would get her money and equity back. Talk to a lawyer in person to get a more detailed answer because property issues are very fact specific. Good luck!
Answered on Dec 29th, 2013 at 9:28 PM