Legal Question in Family Law in Michigan
Property
Wife owned home at time of marriage, There was $8000.00 balance at the time of our marriage 15 years ago.
The property is now valued at $95000.00. What part of the that is considered marital assesses?
1 Answer from Attorneys
Re: Property
There is a good chance that a large percentage of the increase in value of the house will be considered marital property. If the husband did absolutely nothing regarding the house, it may be viewed as a passive addition to the marital assets and the husband would not get a share. However, the reality is that if part of the husband's earnings went into paying the mortgage and the husband did things to the house to improve it, then the increase in value would be viewed as a marital asset and the husband would get a large percentage. However, there may be other factors that would determine whether the percentage is 50% or less. Feel free to contact me at 248-353-9400. Bill Stern