Buying a home


#1

You have an interest in marital assets. So you had $50,000 in a bank account on the date that you separated and he used that money to purchase a home and new furniture, he would still be accountable to you for the $50,000 that you had when you separated. That interest may or may not transfer to an actual interest in the house or furniture.

Generally, the payment of college expenses for the children is not something that will impact the division of assets.

Helena M. Nevicosi
Attorney with Rosen Law Firm

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The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.


#2

My spouse bought a new home and furnished it with marital funds. He purchased the home about 2 weeks after the date of separation.

Is this new home considered marital property? I did not sign any free trader agreement. The downpayment of the home definitely was marital funds as he used our childrens college fund ( about 75K). He claims the furniture was bought a month or two later and he used his separate funds he claims ( this amount totaled about 25K)

What rights do I have to his home and the furnishings? I would like to just call it even and I keep the marital home and furnishings and he keep his or do we need to look at the equity in both. I live in the marital home with the children. There is more equity in the marital home

Sad thing is that he used funds we intended to use to pay for the children’s education. He refuses to pay any costs for our children after they are 18. Is this a case for ED going a little more to my side since I will be helping our college age children and he spent their college fund without my approval.

It seems like the law doesn’t help much for children of a marriage who are between 18-21 and are in college. Yes, he can apply for loans, scholarships, work study , summer job, but that still doesn’t pay for everything. It doesn’t seem fair to the children if their college fund was spent.