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gift went into the downpayment and another gift went into mortgage

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  • gift went into the downpayment and another gift went into mortgage

    So,
    I have received a gift and have put it towards the home downpayment for matrimonial home. Recently another gift I have paid as lump towards the principle of the matrimonial home.
    Are they washed through the matrimonial home equity splitting?
    Thanks

  • #2
    Yes, it was acquired during the marriage and you put it on the matrimonial home.

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    • #3
      If you had kept them in an investment or account in your name they would be 100% yours. But in the matrimonial home they are lost and you split the house 50/50 with no consideration of your two gifts. Sorry!

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      • #4
        Unless the first gift was before your marriage in which case it would appear on your net worth on date of marriage.

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        • #5
          Originally posted by abuseddad View Post
          So,
          I have received a gift and have put it towards the home downpayment for matrimonial home. Recently another gift I have paid as lump towards the principle of the matrimonial home.
          Are they washed through the matrimonial home equity splitting?
          Thanks
          Legally, that's the case yes. You comingled your financial gift into marital assets instead of keeping it separated. You shared it with your spouse already, and you can't unshare it now that you are splitting up.

          However, you could use it as a negotiation strategy. Put in your offer that you want that money back, as it was a gift for you, and see what happens. You could 'generously' take it out later in return for a concession from your ex.

          Needless to say, don't put any more gifts towards the matrimonial home!

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          • #6
            That's a really good idea to include it as a negotiating point

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            • #7
              Now it came the time that I have to fill out form 13.1. The idea of putting the gifts as negotiation point it is a great one.
              Where can I list this?
              Thanks in advance

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              • #8
                Originally posted by abuseddad View Post
                Now it came the time that I have to fill out form 13.1. The idea of putting the gifts as negotiation point it is a great one.
                Where can I list this?
                Thanks in advance
                Should I get my father(who gifted me) to ask for it formally/legally, so it comes out as a shared debit?

                Comment

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