Legal Question in Family Law in Kentucky
Divorce
My husband and I have been married for 12 yrs. I owned my own home before we married which I sold and make $28,000 and put down on a house together. My husbands credit was so bad he could not be on the loan, only on the deed. My husband had two surgeries and was off work for a year which got me behind on all of my bills. We sold our home and purchased a smaller home but my credit was bad by this time and I could only be on the deed, not the loan. Is this going to hurt me in our divorce case or will I still get half of the house sale?
1 Answer from Attorneys
Re: Divorce
I'm going to overly simplify this just to convey the basics. Be aware that there are other things, such as appreciation and marital equity amounts that factor in. The $28,000 was non-marital when it went into the first house. If you sold the house and got the $28,000 out and put it into a second house, it would still be non-marital property. Who obtained the loan and who paid the bills has no bearing.
No if you received zero equity from your first house selling, then your non-marital interest evaporates. Nevertheless, you still have a marital interest in the current house even if your husband is on the loan and you are not. The court looks past loans, deeds, titles and the like to determine who actually gets what.
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