Legal Question in Family Law in Virginia

division of property (house)

My fianc� and I discussed prenuptial agreements and property division in case of marriage dissolution. He currently does not own any property and I do. If we were to get married I suggested to sell my house and use this money as a down payment for a house that we will own jointly after the marriage. After I make 100% of the down payment we anticipate to be making equal mortgage payments. In case of marriage dissolution I suggested that everybody gets to take out their total contribution (not just initial down payment) times how much the house appreciated. His suggestion was that I can take my down payment money back but everything else will be divided 50/50. Is there a law or a formula that can be followed in that scenario? His suggestion seems awfully unfair to me because it allows him a significantly higher return on investment and he is investing significantly less money that I do.


Asked on 8/08/06, 3:54 pm

2 Answers from Attorneys

James Wilson James H. Wilson, Jr., Attorney & Counsellor at Law

Re: division of property (house)

Given your imbalance in assets going into a marriage, you are wise to consider a premarital agreement. You should consult with independent counsel to advise you with respect to the form and content of your premarital agreement. No single attorney or firm can represent both of you in this transaction. There has been a significant amount of litigation recently with respect to the situation you are contemplating, due to the tremendous amount of appreciation in real estate values in some markets in Virginia, particularly Northern Virginia. The following is general legal information on the validity of premarital agreements in Virginia.

Virginia has adopted a uniform act on premarital agreements, the Virginia Premarital Agreement Act.

A premarital agreement is defined as �an agreement between prospective spouses made in contemplation of marriage and to be effective upon marriage.� Virginia Code � 20-148

Section 20-150 of the Code of Virginia addresses what may be contained in a premarital agreement:

� 20-150. Content of agreement. � Parties to a premarital agreement may contract with respect to:

1. The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;

2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;

3. The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;

4. Spousal support;

5. The making of a will, trust, or other arrangement to carry out the provisions of the agreement;

6. The ownership rights in and disposition of the death benefit from a life insurance policy;

7. The choice of law governing the construction of the agreement; and

8. Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.

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Answered on 8/10/06, 11:24 am
Paul B. Ward Law Offices of Paul B. Ward

Re: division of property (house)

You are correct, and he is suggesting he gain an unfair advantage. Make this the issue that predicts his behavior after the marriage.

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Answered on 8/09/06, 11:32 am


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