Legal Question in Family Law in Georgia
Property Division
My wife and I are divorcing after 11 years of marrage. When I met her she owned a house. After we married we moved, selling the house. With the proceeds we purchased another house. A few years later we moved again using those proceeds to purchase another home. We did this twice more for a total of 4 homes bought and sold during our marrage. Now she is saying I owe her for the proceeds from the house she owned when I met her. Is this true? Do I owe her or did this money become community property?
3 Answers from Attorneys
Re: Property Division
Georgia doesn't have community property. It has marital property, which is very different. In a divorce there is what's known as equitable division, which may not always be 50-50 and takes into account facts like those you posted.
Since the bulk of the house money was due to her separate contribution, she has a strong argument. Ultimately, if you don't agree, a court decides.
Re: Property Division
Let me add that in any divorce with assets you need to have a lawyer.
Re: Property Division
Under Georgia law, the house's equity has two components: part is separate, based on the source of the fuunds used to acquire it (separate property) and part is marital, the part used to reduce the principal balance on the mortgages during the marriage. The ratio of the components is applied to the appreciation in value and part of that is also marital and part is separate. You should certainly speak with an attorney to help you determine the respective portions and work toward the best outcome for you in ths case.
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