Marital property or not?


#1

I had non marital funds which I used to place a down payment on a home for my son. These funds were in the form of stock which I sold and transferred the proceeds directly from my separate account to the lender for the down payment but the home and mortgage are in my son’s name. My son has made the payments on the mortgage from the start (for 5 years now) and I paid some of the utilities. My son allowed my wife and I to live in the home for the duration. The reason I gave my son this money is that I had promised him since he was a child that I would reimburse him for his college expenses once he graduated college and I also owed him a good bit of money anyway(nothing in writing just informal). Is the home marital property?


#2

It sounds like the house belongs to your son.