Q: we gave our daughter down payment and we live with her, now shes getting divorced, can we get our money back?
house is in her and her husbands name.
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A:
Getting your money back from the down payment you gave your daughter can be challenging, especially since the house is in both her and her husband's names. Typically, once money is given for a down payment and the property is purchased, it becomes part of the couple's marital assets. During a divorce, these assets are usually divided according to state laws or through an agreement between the parties.
You may have a stronger claim to the money if there was an agreement in writing that it was a loan rather than a gift. If there is no written agreement, it might be more difficult to prove that you intended to get the money back. You could try negotiating directly with your daughter and her soon-to-be ex-husband to reach an amicable resolution.
It’s important to understand the laws in your state, as they can affect how assets and any contributions are handled during a divorce. Consider consulting with a legal professional who can guide you based on the specific details of your situation and the laws applicable in your area. Taking this step could help you better understand your options and decide how to proceed.
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