Marital gifts


how is money given as a gift to a couple by a parent viewed when it comes to a divorce and equitable dist?


If the gift was to both, then 50/50. Gifts to an individual belongs to the individual. You will need some documentation.


The gift given by a parent was solely used as a down payment on a house. The check was written with both names on it with a letter that clearly states that there is no expectation of repayment. How ist his gift viewed and considered when it comes to equitable dist.?


A gift of this sort will be considered a gift to the marriage and will not be considered the separate property of either spouse when the equity in the home is split.