Legal Question in Family Law in Florida
Property ownership and divorce
I currently own a home with my wife of two years. Before I met her, she had purchased a piece of property.
When agreeing to marry, we decided to build a home on the property. When we applied for the construction loan, she was approved in her name alone as I had gone through a bankruptcy. The property was appraised for a considerable amount more than what she paid, thus giving us equity to use as down payment on the construction loan. After the house was complete, the loan was converted to a conventional loan still in her name alone. This was done just prior to our wedding. Shortly after the wedding, we re-financed and now I am the borrower and she is the co-borrower, but her name alone is listed with the county as the property owner. After two years of marriage we are considering divorcing. My wife insists that she is entitled to not only the money she initially put down on the property, but also the equity she had in the property when approved for the construction loan. I feel that I am entitled to an equal share of the proceeds from the sale of the house. Who is right?
1 Answer from Attorneys
Re: Property ownership and divorce
Interesting set of facts. The general idea is that what ever was individual property before marriage remains as such during and after marriage unless comingled with or improved by marital money. So, you are probably entitled to half (or a protion of) the equity from the date of marriage (possibly minus the value of the land). I wouldn't count on anything prior to the date of marriage unless you can show that some of your money was used to purchase, maintain, or improve the land and in what proportion...
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
