Is our home of 13years marital property?


#1

Yes, Your home is marital property. Despite the fact that he bought the home before you were married the house accrued equity during your marriage. Half of the equity accrued during your marriage is yours.

Have an attorney review all documents that you are asked to sign.


#2

When was your name added to the deed and how is it deeded? If it was deeded to both of you after the date of marriage and you own it as a tenancy by the entirety then it is marital property.

It can be split may ways one of which is sale, he could also take a second mortgage and buy you out.

P.S. Please feel free to bring up this or any other topic on our live call-in show every Wednesday at 11:00 a.m. EST. Visit radio.rosen.com/live for details

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax

Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044

Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780

ROSEN.COM

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.


#3

My husband built a home four years prior to our marriage. We have lived here together as a married couple the past 13 years. I worked and contributed my income for the first four years of our relationship. I became a stay-at-home mom to our two adopted sons and have remained that for the past ten years. My name is not on the mortgage loan but is on the deed. Our home is valued at close to $1,000,000.00, and we owe approximately $350,000.00. We are preparing to separate, so I’m wondering if our home is considered marital property even though it was acquired prior to our marriage. Also, if it is, how would it be divided? Only by sale of the home??

Thanks in advance for your input.