Legal Question in Family Law in Maryland

Premarital Property

Hi. due to severe verbal and mental abuse, I am seriously thinking of filing for separation. My question is. we have a house together, much debt together, but he has quite a bit of equity in another house he owns with ex-wife. We have been paying 50% of the mortgage for 3 years...am I entitled to any of the equity when house is sold? Must be sold within next 16 months and proceeds split. We incurred some pretty hefty debt with the understanding that when the proceeds from this house was sold we could pay it off. Please help.


Asked on 5/15/07, 12:29 pm

1 Answer from Attorneys
Robert Sher Wagshal and Sher

Re: Premarital Property

The house that your husband and his ex own is partly nonmarital and partly marital for you. Whatever equity there was in the house as of the start of your marriage belongs solely to your husband and his ex. However, the equity that has accrued in that house during your marriage is marital, because marital funds have been used to pay the mortgage. As a simple example, if the house had equity (market value less mortgage balance) of $200000 when you got married, and the equity is now $300000, and if you and your husband paid half the mortgage all during your marriage, then the ex is entitled to $50000 of the equity increase, and you and your husband are each entitled to $25000. This assumes no major improvements to the property, which are another factor.

Read more
Answered on 5/15/07, 1:55 pm


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in Maryland