Presently divorcing. 10 yr marriage. Couple of yrs ago, husband bought a house for he and I, paying fully in cash from monies withdrawn from his stock portfolio acquired before we married and titled it in his sole name, as a married man. I zealously furnished, decorated, and moved in. Ecstatic.
Would this house be considered a gift by him to the marital unit?
Thereby now being subject to equitable distribution
which would be a life savor for me, given my circumstances.
At age 76, being financially “starved” by a wealthy, covert narc, I have otherwise no home to move into, no funds in savings.
Husband never moved into the house, for he was staying in his mother’s house watching over her until she died some months ago appx, as he had been for many years.
If the house is deeded in just your husband’s name and 100% of the source of funds to acquire the house is from his separate property account that he acquired entirely prior to your date of marriage, then the house is likely his separate property.
If any improvements have been made which would add value to the house (and any principal paid down on the mortgage, but it sounds like there is none), then these amounts would be the marital value of the house and you would be entitled to 50% of the cost of improvements paid and principal paid during the marriage.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
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THANKS for your info