Real estate


#1

My wife saw a lawyer this week which raised a few questions.

The lawyer told her that her name was on a deed, of a house I bought before I got married to her. I recheck with Graven County Deed office (online) and it clearly states that I am the only person on the deed, apparently he is feeding her false information, just to get her as a client. Secondly he said that since I deposited large sums of money into a joint checking account to pay for the house, that she is entitled to half the proceeds of the sale of this house. My money was “parked” in this account for a week or so till I closed on the house, again all the funds to buy this house came from me, she didn’t spend a dime on buying this house. I can proof that all the money came from me. Is her lawyer correct?

She did co-sign for a home equity loan I took out on this house. We only got the home equity loan because of my excellent credit rating and that I am employed. Her credit rating is in the 400’s and she is un-employed, while my credit rating is around 775. In my opinion, since she signed, she is responsible for half the debt, am I correct? Any other consequences of this arrangement?

Last question, When we bought our primary residence, in August of last year ( because I was unable to sell my house, mentioned in my first question) I took money out of my 401K (My money, as I had it before I got married to her), as a down payment on this house. Without this money we wouldn’t have been able to buy this house. I needed to provide shelter for my 4 legal children. Can I claim that it was my money (from before we got married) and therefore I am entitled to get that money back, from the final selling price of this house?

It is (was) a short term marriage, less than two years, and the children are legally mine from a previous marriage.

Thanks.


#2

It is difficult to say in regards to your first question. However, I can say that she may very well have an argument because you placed the funds in the joint account to purchase the home. Likewise, unfortunately, by removing what was your separate property from the 401K and using it to purchase the martial home, those funds are presumed to be a gift to the marriage. She can make an argument to lay claim to that as well.