QUESTION
If I get divorced, can my spouse take financial interst in my home?
Asked on Feb 24th, 2015 on Divorce - New Hampshire
More details to this question:
I purchased my home in 2012 soley in my name, property deed in my name only, mortgage as well, this was/is our primary residence. I purchased the home from my father's trust and in buying the home, my father gifted a large amount of equity in the home to me as part of my inheritence. I am getting divorced. Can my spouse take half my home?
1 ANSWER
In an equitable jurisdiction states, such as New Hampshire, all property, including gifted and inherited property, are considered marital assets and subject to division, even if the property is held in the name only one spouse. However, being an equitable jurisdiction state, the court may chose not to divide the gifted property or limit the division of the asset. There are a number of factors which plays a role in the court's analysis, such as the length of the marriage, age of the parties, health of the parties, the needs of any children, the ability of the both spouse to earn future income, etc. Please let me know if you have any further questions.
Answered on Feb 24th, 2015 at 12:32 PM