Q: Had a home before we married sold the house while married. used the money for a down payment on home . divorcing $
Splitting the assests am I entitled to get back the down payment from a premarital equity
A: A home that you owned prior to marriage is considered non-marital property. However, your current spouse may have a claim to any increase in value during your marriage of the home. Say for example, that when you remarried the home was worth $100,000 and at the time you separate from your spouse it is worth $125,000. The home itself is not marital property and he cannot be awarded it in a divorce. However, the $25,000 increase in value during the marriage can be considered in equitable distribution unless you have a valid prenuptial agreement excluding the home and any increase in value.
Please feel free to visit my website to learn more about equitable distribution, marital and non-marital property. http://www.pafamilylawyers.com/Property-and-Debt-Division/
Lisa Marie Vari, Esquire
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