Property


#1

Dear justplaintired:

Greetings. You have discovered some of the harder issues of family law. First, how do we define separate and marital property and what events occuring during the marriage can transfrom separate property into marital property. The house was separate property of your wife, since it was solely in her name. The question of whether or not the property was gifted to the marriage at a separate time will take more information. What does the deed say?

I am not sure that I understand your question on income from a business. If you mean in the separation, we simply value any part of the business which is marital. If you mean while you are living together…good luck. Best of luck.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
RosenDivorce.com
919-787-6668

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 but a full discussion with an attorney should be undertaken before taking any action.


#2

The deed is only titled in her name. The line of credit loan was against the house but they did not change the deed. What exactly could make it as gifted to the marriage? How could someone help pay on a house for 14 years and then they get nothing? I do not want her to remain here. I would rather both of us have to start all over. How can that law be fair? What ways are used to get around it? Also, if she passed away before we ever seperate who would get the house? Her son? Thaks[:(]


#3

Dear justplaintired:

Greetings. No, I believe that the house is still separate property, although it may have some marital equity which would be divided pursuant to our equitable distribution laws. You should speak with an estate planning attorney on who would obtain her property in the event of her death. Best of luck.

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
RosenDivorce.com
919-787-6668

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 but a full discussion with an attorney should be undertaken before taking any action.


#4

1st thank you for any questions you have answered previously.
I will try to make this clear. We have been married for 11 years and purchased the house prior to marriage with her name only due to my credit. We purchased the home and moved in. We were married a couple of years later. We have always split all costs since moving in. We did take out a home equity line of credit with both our names a couple of years back for home and other things. Does that mean that the seperate property(house) is now marital? Also, how can I insist that monies being earned from self-employed business be shared? Yea she does the work there but I do all the work at home? Thanks