I inherited my grandmother’s home in 1998, with a mortgage balance of $10,000 during my 15 yr marriage. In 2000, my spouse and I borrowed $80,000 against the equity of home. My spouse’s name was placed on the “Deed of Trust” at that time. With the monies, we did home improvements, paid off inherited mortgage, vehicles, credit cards and spent freely. The current tax value of the house is $195,000.
My fear is that this is considered a gift to the marital estate and now has become martial property.
Is this considered “Marital Property” or “Separate Property”?
Thank you for you help.