Q: If me and the wife both own the house,and her dad sold his and put the down payment on it,
How is it she is entitled to get that money back if i have to buy her half out if it not a marital asset. That makes absolutely no sense whatsoever. It was his house,he sold it,even if her name was on it or it was gonna be left to her in his will. If inheritance cant be shared by divorcing spouses then shouldnt have to pay it back either. It makes no sense.
A: The down payment by dad is non-marital in nature and will be restored to his daughter. After that, the proceeds will be divided 50/50.
It is possible to make an argument that the down payment was a gift to the marital estate. However, if dad testifies that this was not the intent, the check was made out to daughter only not to daughter and husband, it is likely non-marital. Inheritances are usually non-marital and separate property unless there is a will that specifically gives to the husband.. This of course is a general answer and is not intended as legal advice because I don't know all of the facts. Refer to Kentucky Revised Statutes 403.190 which specifically speaks about gifts: For the purpose of this chapter, "marital property" means all property acquired by
either spouse subsequent to the marriage except:
(a) Property acquired by gift, bequest, devise, or descent during the marriage and
the income derived therefrom unless there are significant activities of either
spouse which contributed to the increase in value of said property and the
income earned therefrom
1 user found this answer helpful
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.