Legal Question in Family Law in Michigan
Vacant Land
I was just recently married and my question is in regards to vacant land that I owned prior to getting married. should any problems occur down the line such as divorce, does my wife have any claim to the property since i owned this before we were married? I also had the land paid off prior to the marriage...so this land was mine before the marriage....thx
1 Answer from Attorneys
Re: Vacant Land
The property should be considered your sole property provided you do not integrate the land [or aspects of ownership] into the family finances. If you use the property for the family, then it will probably be considered as having been put into the "marital estate" and subject to consideration should there be a division of assets under a divorce decree. HOWEVER, there are several factors in weighing what is or is not in a marital estate, one of which is certainly the value of the land and whether you showed an intention to give part of it as a gift to our spouse. If it is worthless, then chances are it would not be worth fighting over later; if it is valuable enough to quibble over, you might want to obtain the written agreement in writing of your spouse now that it is not a gift. Note, however, that even if property is considered a marital asset, that doesn't mean that your spouse would be entitled to receive it in a divorce. There are "equitable" considerations, and it may be the value of the property that is taken into account, not the property itself, in which case you would receive the property and she would receive an amount of money to offset her presumed interest in the property. The best thing, if you do not want to integrate the property into the marital estate, is to put it in writing that the property is yours and yours alone regardless of the fact that you're now married. Check with an estate planning professional, also, to see if there is a way to put it into a trust as part of your will, which will reinforce the fact that you do NOT consider it to be marital property. Note, finally, that any appreciation in the land would probably be considered a marital asset, even the the property was found to be yours alone, particularly if, for example, you took out a loan against equity in the property and used it for the family. HTH
Regina Brice
Brice Law Offices
2232 S. Main Street #364