divorce

[Bobbi_Newsome]

I got married in 1999. My mother bought a house with monies her parents left her when they died. My mother has a Life Estate on the home . When she dies the house comes to me. Is this property a martial asset?

 

[Michael Wechsler]

My understanding is that the home is not a marital asset provided that it is kept solely within your name. Be careful that the property does not become any co-ownership interest. State laws may vary.

 

[Bobbi_Newsome]

Mother allowed me to mortage the home to purchase the proerty next to us I put my husbands name on it with mine also the property had a home on it that the loan paid to have torn down and a fondation dug and a fontion for a pool dug now what?

 

[Michael Wechsler]

I don't know what to tell you and am not sure why you decided to make your sole property a joint property. It seems that you also may have a complex situation and may wish to obtain a full consulation from an attorney who can review all the facts and circumstances of your particular situation. What you may have done might not affect the marital estate but it seems like you might benefit greatly from the consultation.