This book will focus on the rights each spouse has under certain laws, situations, and circumstances, and how the division of the property will be decided by the court or through negotiation.
[quote][quote] >>>>>>>Property acquired by inheritance, gifts from third persons, compensation for personal injuries and property acquired after the start of a divorce action are considered separate property and is not subject to equitable distribution . Her only claim may be to any increase in equity DURING the marriage . [/quote]
Thank you very much for your reply. I'm sorry but what exactly does "equity" mean? What I think it mean is the value increase since I have owned this house? I got the house VERY cheap because I got it from my sister and my father was giving me all the money for it. I got the house for $70,000.00 in 2000 and now it's worth around $250,000.00. Does this mean she can possibly get half of $180,000.00? And if yes why would this only maybe happen?
Thank you. [/quote]
Did you pay outright for the house or did you put a down payment and get a mortgage?
If it is the latter, she has a very good argument for getting half of the increase in equity that occured during the marriage.
If it is the former, you may be able to make an argument that she shouldn't get half of the increase equity.
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Re: HELP NEED SOME OPINIONS ANSWER GUY?
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