QUESTION

Would home have to be sold and split in a divorce if purchased with gifted money from a parents death?

Asked on Jan 21st, 2016 on Divorce - Florida
More details to this question:
My mother gifted me money from money she received from my fathers death. Gift money was in a check made in my name only. Home is in my name only due to spouse owing back child support and income taxes. Spouse believes half of home is his and it would have to be sold and the money split if we divorced.
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2 ANSWERS

If the home was purchased during the marrriage, it is a marital asset subject to equitable distribution even if it is titled in only one spouse's name.  However, there are exceptions. One exception is if the home was purchased with monies gifted to you by your mother.  But if those monies were commingled in a marital bank account, and are not able to be adequately traced to the purchase of the home, the exception may not apply.  The answer to your question depends upon a fact-intensive analysis of the totality of the circumstances, including but not limited to the amount of money gifted to you, where the money went, when the house was purchased, the purchase price of the home, whether there was a mortgage being paid with marital funds, the appreciation of the value of the home during the marriage, etc. Even if it is determined that all or part of the home is a marital asset, that does not necessarily mean that it would have to be sold and the proceeds split 50/50.  The court would consider all the equitable circumstances and make a determination as to what should be done with the house, and how it should be split up (if at all).
Answered on Jan 26th, 2016 at 8:53 AM

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Family Law Attorney serving Plantation, FL
3 Awards
It is not a simple answer. How the mortgage was paid throughout the marriage (if there was a mortgage), taxes, and insurance? Were there any renovations to the house with marital money? Also, the passive appreciation due to market conditions can be considered "marital." However, the house does not necessary need to be sold, you can buy your Husband's share of the home. Best of Luck, Helena Y. Farber, Esq. ~Associate Attorney~ Law Office of Cindy S. Vova, P.A.  
Answered on Jan 22nd, 2016 at 2:12 PM

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