Could you please help me understand property distribution regarding home & equity of premarital assets.
I bought a house in 2000 for $100K and invested another $50K into it before getting married in 2004, it was titled only in my name and I owed it outright, until sold in 2006 for $200K. I owned the house for 6 years (2000 to 2006) and married in year 4 (2004).
In 2007 I bought another house for $300K and invested $100K in improvements, financed $200K. Mortgage and titled only in my name, as the $200K from the sale of the previous home was used for downpayment.
The house is currently titled and mortgage is only in my name, I am trying to figure out what portion/percent of the equity is mine versus hers? Can you help me? I do not want to sell the house, as it is currently valued only at $380K and would like to know what I should/need to satisfy her interests in this asset.
2000 bought/invested $150K
2006 sold for $200K
2007 bought/invested $400K, financed $200K
Current mortgage $175K.
Thanks again for all your help and insight, it is greatly appreciated.