Legal Question in Family Law in Tennessee
inherited property while married
My wife has asked for and filed for a divorce. Because we have 3 childrren we are keeping it as freindly as possible. My question is this.
My Grandfather left me in his will a hoouse. This house stays rented out. It is solely in my name.
Is this property considered marital property?
1 Answer from Attorneys
Re: inherited property while married
If you inherited the property and kept it in your name, it should remain your separate property. There are exceptions, and you will want to speak with your family law attorney about it. One thing you should know is the TN statute that declares this your separate property also says the income from the separate property is your separate property. However, the statute also provides that if both parties substantially contributed to its preservation or appreciation, then the appreciation in value could be considered marital property. Separate or not, the income from the property will be considered income for purposes of child support. On a final note, the property division statute also provides that when the court is dividing the marital property in an equitable manner, the court can take into consideration the fact that one of the parties has a significant separate estate. Best of luck.