Legal Question in Family Law in Nevada
if there is divorce or separtion---
Current situation: a house payment has been taken out of the husband's check for 8 yrs, the wife was a homemaker for 10 years, and went back to work fpr 3 years then layed off in June (budget cuts).
Background: in1990,the home was purchased, with the wife's family contributing appx 30,000 down, co-signing, and then giving the couple 1000/month - personal check- to make monthly payments for about 12 yrs (ending 2002). At that time the couple began making the payments themselves.
COULD THIS AFFECT THE DIVISION OF HOME OWNERSHIP?
There are 10 yrs of remaining payments.Can you advise? THANK YOU!, ---bailey
1 Answer from Attorneys
To the question "could it" the answer is definitely "yes."
I presume there is no contractual documentation as to whether the money was being loaned or was a gift. And, if a gift, to the couple, or just the wife? The question would be what testimony or other evidence exists on any of those points. And, presuming the house is held in joint tenancy, the law (NRS 125.150(2) permits but does not require the tracing of the money back to the separate property ownership of the person donating the money. This, obviously, can be both technical and complicated. For background, see http://www.willicklawgroup.com/property_rights_division.
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