QUESTION
Can I owe my half of the property value if we divorce?
Asked on Sep 29th, 2014 on Divorce - Illinois
More details to this question:
I bought a one acre lot in 2005 and moved a manufactured home that my mother gave me and put it on a basement. I had to take out a mortgage for $35,000 to do improvements and have been making payments for 9 years from my own personal bank account.
1 ANSWER
When did you marry? If you bought the lot during the marriage there is a presumption that it is marital. Is there a title to the home? Once you attach it to the land, if the land is marital property, then the home may be transmuted into marital property. Dates are very important in divorce cases.
Answered on Sep 30th, 2014 at 12:08 PM