Q: Will my wife receive the majority of the equity in our house? We live in Wisconsin.
Been married for 8yrs. Together for 15yrs. House was purchased and lived in by both of us for the last 13yrs. The title and mortgage was in her name initially due to my less than stellar credit at the time of purchase. We have since refinanced the home and both names are now on the mortgage and deed. I’ve personally made numerous improvements over the years and have invested 75k just in the last 5yrs. Would our home now be considered “Marital Property” instead of “Separate Property”? Would I be entitled now to half of the equity?
A: If you have refinanced the mortgage in both of your names and made mortgage payments during the marriage, it has become a marital asset.
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