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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #1  
Old 10-19-2012, 09:42 AM
c800957276 c800957276 is offline
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Default Assets before marriage

Hello all,
I'm currently separated, living under the same roof as the spouse, not giving up custody of our child, or equity. We have to wait six months before we go to Trial Management Conference and/or Settlement conference.
Before marriage, my wife owned a home with her mother and sister. I moved in with her in this house for 3 months before marriage, then lived there for about six months after marriage until they sold it. My son was also born in this house. My wife's mother and sister lived in the same house through that time.
Is this home considered a matrimonial home? In my financial disclosure documents, I did not include any of the value of this asset under my data because my name was not on the title, but I think I should have included it because it appears to meet the definition of "matrimonial home".
Thus, what I am asking is, because I lived in this house, I got married in it, and my son was born there, although my wife owned it before marriage, is the value of this asset (my wife's share) half mine? Should my wife's share of the value of this house (including "my half" if applicable) be considered family property, or should it be considered equity before marriage, hers alone?
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Old 10-19-2012, 12:49 PM
DunnMom DunnMom is offline
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No expert ... but I'm going to say NO since you state that you lived in a house for 9 months (3 before marriage & 6 months after marriage) and then the house was sold.

You and your STBX are obviously living somewhere else now and at the time of separation. Wherever you were living at the time of separation would be the Matrimonial home
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Old 10-19-2012, 01:17 PM
HammerDad HammerDad is offline
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From what I gather is each your ex, her mom and her sister were all co-owners of a property. You lived in said property for 9 months.

It could be deemed the matrimonial home, however it a court ever determined it was, you would only be entitled to 1/2 of your ex's share, so 1/6 of the equity.

What did your ex do with the funds from the sale of that house? Has she included them on her financial statements? Were they used to purchase the existing house? These are questions that I would be looking to answer.

It would be a difficult matter to argue. The short duration, the other owners etc all muddy the waters.

But if your ex used the funds from the sale of that house to purchase the existing house, which is the matrimonial home, then she co-mingled the assets and they would likely be fair game.
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Old 10-19-2012, 01:23 PM
Pursuinghappiness Pursuinghappiness is offline
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Hmmm....yea I'm no expert either but I think DunnMom is right.

If the house wasn't sold, I think what you'd be entitled to is half of your ex's portion of the increase in equity.

However, since the house was sold and these funds were absorbed into your marital expenses, its a non issue. I think the only way you might have a case here is if she put those specific funds away into some account.
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Old 10-19-2012, 01:28 PM
Pursuinghappiness Pursuinghappiness is offline
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Quote:
But if your ex used the funds from the sale of that house to purchase the existing house, which is the matrimonial home, then she co-mingled the assets and they would likely be fair game.
I'm not sure I understand this.

If she co-mingled the assets or used them to purchase a new home...wouldn't those funds wouldn't already be included in her NFP in the listing of those assets? I would have thought he would have had a case if she's got those funds separated from everything else and not listed on her financial statement.

Last edited by Pursuinghappiness; 10-19-2012 at 01:30 PM.
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Old 10-19-2012, 01:38 PM
HammerDad HammerDad is offline
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Quote:
Originally Posted by Pursuinghappiness View Post
I'm not sure I understand this.

If she co-mingled the assets or used them to purchase a new home...wouldn't those funds wouldn't already be included in her NFP in the listing of those assets? I would have thought he would have had a case if she's got those funds separated from everything else and not listed on her financial statement.
They should be listed on their NFP either way....

If they were separate and never co-mingled, he still has an argument for them given the house could easily be deemed the matrimonial home. But if they were never co-mingled, it would mean he would have to argue that they should be deemed family assets and that they be divided. Essentially, he still may have a claim, it is just a harder argument.
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Old 10-19-2012, 03:14 PM
c800957276 c800957276 is offline
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Quote:
Originally Posted by HammerDad View Post
From what I gather is each your ex, her mom and her sister were all co-owners of a property. You lived in said property for 9 months.

It could be deemed the matrimonial home, however it a court ever determined it was, you would only be entitled to 1/2 of your ex's share, so 1/6 of the equity.

What did your ex do with the funds from the sale of that house? Has she included them on her financial statements? Were they used to purchase the existing house? These are questions that I would be looking to answer.

It would be a difficult matter to argue. The short duration, the other owners etc all muddy the waters.

But if your ex used the funds from the sale of that house to purchase the existing house, which is the matrimonial home, then she co-mingled the assets and they would likely be fair game.
Well, I never knew how much she got, and never knew what she used the money for. I do know that she came up with the downpayment for our current home, but she said that she used a LOC for that, and never even mentioned her proceeds from the sale of her other home. I never even bothered asking because I never thought I would be brought into a mess like this.
So it is a messy issue. She potentially used that money to purchase our current home...
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Old 10-19-2012, 04:08 PM
standing on the sidelines standing on the sidelines is offline
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then your current home is the matrimonial home.Not the previous one.
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Old 10-19-2012, 08:27 PM
ddol1 ddol1 is offline
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You are not sure of the sale proceeds? I am near positive that if it was a MLS listing the list and the sold information can be obtained by any real estate agent who has access to the MLS system as it is public knowledge. (I make the assumtion it is public as listings with sold prices are printed and given to potential clients all the time as comparables when buying/selling a home)
  #10  
Old 10-20-2012, 02:59 AM
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arabian arabian is offline
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Wow. If this were a female poster the responses would definitely be different.

My advice would be not to nit-pic this issue. You were married for a very short period of time and in my opinion it is not worth pursuing.

I don't know how long you have been married? Yes that is the matrimonial home. I hope you are selling this yourself and not through a realtor to get every last drop of equity you can for it. Check out realator's fees before you sign on the line and remember you can always cancel a contract with a realtor.
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