Legal Question in Family Law in Utah
My husband and I have been married 9 years and have separated.
The in-laws first gifted $20,000 to buy him a home before we met. We lived in that home for 5 years, before it was time for them to come live with us, so we sold the first home and used the equity to buy the 2nd house, which then in-laws then gifted us $30,000 towards buying the next home. My husband thinks that he should get credit for the 1st gift as well as taking $30,000 that was gifted to us off the equity of the house. How do gifts work in transactions like this. I have paperwork that states that the gift was to both of us for the purchase of the house....
1 Answer from Attorneys
If the $30,000 gift was to both of you, then it is a marital asset and you're entitled to one half of it. Your husband would probably be entitled to the $20,000 of his premarital equity from the gift put into the first home.
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