Regarding house

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Regarding house

My husband and I will be filing for divorce early next year. In regard to my house. I am the purchaser of the house we currently reside. My husband is not on the mortgage loan nor on the title. However, he was on the title of the house we sold in order to purchase the current house. He had originally planned to take half of the proceeds from the sell of the first house but decided not to and moved with me into the new house. Therefore, 100% of the proceeds went towards the down payment. Is he still entitled to those proceeds?

Asked on October 30, 2018 under Family Law, Colorado

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

If he contribute some or all of the money used to purchase the home and the home was bought during your marriage, he certainly has a claim for at least a share of its value or equity. In a divorce, a judge will look at how much he paid for the home vs. how much you have paid (e.g. your share of the down payment; also how much each of you have contributed to mortgage payments, taxes, insurance, utilities, and upkeep) and decide on the disposition of the home and its equity. The judge could order that you pay him some amount, for example, either now or on the sale of the home; the judge will also determine who should be allowed to live in the home pending its sale (and when it may have to be sold), which determination will generally look at factors like the best interests of the children (if there are any) and where and with whom they should live, and also where you and he work and the affect on your lives of moving to a different home.


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