If my wife bought a home 3 months prior to marrying me while we were living together, can that home be deemed marital property?
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If my wife bought a home 3 months prior to marrying me while we were living together, can that home be deemed marital property?
We lived together for the last 12 plus years. My wife bought the home 3 months prior to our wedding date while I was deployed with the army. I helped in the down payment and every mortgage payment, taxes, and insurance since. Her name is on the deed only. Is this marital property?
Asked on May 17, 2012 under Family Law, Colorado
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Colorado is known as an equitable distribution state where assets are divided equitably, not equally. Property you bring to the marriage, along with gifts and inheritances received during the marriage, are considered separate property. Depending on the case law in your state, the courts will look at certain factors to determine if there was an intent for the property to remain separate. Her name being on the deed alone shows such an intent. However, other factors can be shown to prove otherwise and any increase in the value of separate property is marital property and will be divided equitably. Please seek legal help. Good luck.
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