Legal Question in Wills and Trusts in Colorado
Fun question today: My mother and I have a debate. My grandmother has a home that was purchased before her second marriage. If she sells the home and buys a new one, the money is taken from prenuptial protected property and then comes from marital funds. However, assuming they purchase a new home together with the money from the first home and one of them passes away, which of the following is true: A) The home passes to the surviving member of the marriage to allocate as they choose with no obligation to the other person's kids or b) the surviving member of the marriage may not sell the home with out compensating the late members heirs or if the surviving member passes the home must be evenly divided between both members heirs from their first marriages (there were no kids from the second marriage and no legal adoptions).
1 Answer from Attorneys
Neither. Your assumptions are incorrect meaning that neither of the answers is correct. To derive the correct answer, it is necessary to determine how she holds the proceeds from the sale fo the first property. Purchasing a new property after marriage does not, in itself convert the new property to marital property.
These cases are complex since tracing of the funds used for the purchase is required. Additionally, upon her death, the result is determined by an array of factors, none of which are listed in your hypothetical.
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