If property is given to a spouse during a marriage, and then a marital home is built on the property, at the time of divorce how is this asset split?
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If property is given to a spouse during a marriage, and then a marital home is built on the property, at the time of divorce how is this asset split?
My spouse and I have been married for 37 years. 25 years ago my parents gave property to myself and my siblings. The property deed was issued in my name only. All tax statements are in my name only. Subsequently a home was built on the property. Now a divorce is imminent and I am wondering how the asset should be divided? I believe the home is considered a marital asset and the value of the home should be split evenly but I should be awarded the full value of the property the home sits on. Can you help us with this question so we can resolve this issue we have?
Asked on October 10, 2011 under Family Law, Minnesota
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You certainly have a unique situation and I believe that you are going to have a time of it trying to sort things through. There are more facts and information that is needed her to help determine what the status if the land will be. You say that the land was deeded to you and your siblings, correct? Then why does the tax bill come in your name only? Did you purchase the land fro your siblings? Do you pay "rent" to your siblings for the house that is built on the land? What was the agreement? This is important. Mostly because if you in some way obtained the land from your siblings and built a marital home on the land ad have been paying the taxes with marital funds (all funds earned during the marriage are marital unless proven otherwise) then I would say the property is marital property. Please seek legal help. Good luck.
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