J Edward
I have a friend who has been working through a divorce with an arbitrator.
Unfortunately, her husband has recently refused to give her any of the equity in their home. He is arguing that the home was a gift from his parents and therefore is not a community asset.
The house was "transferred" from his mother in 2002, she is still alive. My friend and her husband are still in the process of paying her for it with payments that have not been reported to the IRS. A mortgage was taken out to improve the property and was signed by my friend and her husband. The deed has both names on it as does the tax bill.
Question #1; does he have a leg to stand on?
Question #2; What are the specific conditions on which an asset can be held separate from the community assets in Massachusetts?
thanks in advance for your responses, please hold responses that are specific to other states as divorce law can vary widely.
thank you,
J Edward
Unfortunately, her husband has recently refused to give her any of the equity in their home. He is arguing that the home was a gift from his parents and therefore is not a community asset.
The house was "transferred" from his mother in 2002, she is still alive. My friend and her husband are still in the process of paying her for it with payments that have not been reported to the IRS. A mortgage was taken out to improve the property and was signed by my friend and her husband. The deed has both names on it as does the tax bill.
Question #1; does he have a leg to stand on?
Question #2; What are the specific conditions on which an asset can be held separate from the community assets in Massachusetts?
thanks in advance for your responses, please hold responses that are specific to other states as divorce law can vary widely.
thank you,
J Edward