Q: is borrowing from a HElOC on marital property to pay bills for a non-marital asset considered commingling of funds?
Should I repay the HELOC borrowing back to avoid commingling? With non-marital funds or thru regular wages?
A:
It would be important to know what the non marital asset was, when it was acquired and whether it appreciated in value during the marriage, creating a marital interest in the increase in value.
However, generally to borrow from a marital asset during the marriage, it is necessary to have the consent of the other party. Generally also co-mingling involves the opposite - putting separate funds into a joint asset. However, every case is fact specific. This asset may have a marital interest, though separate property. Also many people think that whether marital property is determined by title rather than date of purchase so it is not possible to say whether the asset desired as separate is separate. It is only possible to give a general answer to a general question
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
