am I entitled to equity in marital home if it is in my husbands name only? Purchased 1 week before we wed.
3 Answers from Attorneys
You might not be entitled to the asset itself (the house) but the gains or growth in equity occurred during the marriage so you may be able to make a claim for some portion of the equity. What contributions did you make to improving or paying for the home? That may also weigh on your claim.
Any contributions to the equity made with marital funds are subject to equitable distribution between the parties at the time of divorce. Since the income of either party during the marriage is marital in nature, when the mortgage is paid from earnings, legally that represents a joint payment of the mortgage regardless of whose account the money comes from. So unless you husband bought the property for all cash, using his premarital money, and there were no improvements to the property during the marriage, you do have equity in the home.
You are entitled to one half of the marital portion of any assest that can be wholly or partially marital. In most cases, a home becomes marital if marital money was used to pay the mortgage, bills, improvements, etc.
If you are interested in discussing your matter further, please contact my office for a consultation.
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