QUESTION
House owened before marriage and was a inheritance gift can i loose it in a divorce
Asked on Jul 27th, 2017 on Divorce - Iowa
More details to this question:
I owned the house before living together/marriage. The house was my childhood home and was passed down to me upon my grandmothers death in her will. We have added on to said house since the marriage. Is there any way I could lose the house during a divorce.
1 ANSWER
How the house is handled is based on a number of factors. You identify two of them -- your inheritance of the property and improvements you have made to it during the marriage. The other important factors are the total amount of property (including financial accounts) that is available to divide in the divorce and the length of your marriage. If there is sufficient property, you would be able to keep the house. But, if there is not, and you have a longer marriage, then the court may look at the house as a way to divide the property "equitably." Unfortunately, this is not a yes/no question without looking at all of the factors. A good attorney can help you work through the analysis and advise you on the chances of loosing/keeping the house.
Donna Miller
515-245-4300
http://www.grefesidney.com/our-team/donna-miller/
Answered on Jul 31st, 2017 at 6:31 AM