Question:
Can my spouse be granted a buyout of my house with my name on it solely, even if I bought the house before marriage? Also, would they need to prove that they contributed from strictly their own money that they assisted in enhancing the property value?
Answer:
While I am not licensed to practice law in your state, I am able to provide some insight due to my experience in family law. Marital Property is typically anything that was acquired regardless of title during the marriage. If this home was purchased prior to the marriage and your spouse’s name was never put on the deed or the mortgage title, then by definition it is not martial property, so there is no need for a “buyout”.
To your second question, yes. Because they contributed to the home, they have a martial interest in any equity (provided that there is equity) that occurred due to their contribution. If they can prove this, then they could possibly have a right to a monetary award. If the monetary award cannot be deducted from a standing source of money, the next option would be to refinance the home, so that they can receive their award.
To arrange an initial consultation to discuss divorce rights for men with a Cordell & Cordell attorney, including Maryland divorce lawyer Ashley J. Ward, contact Cordell & Cordell.
Dan Pearce is an Online Editor for Lexicon, focusing on subjects related to the legal services of customers, Cordell & Cordell and Cordell Planning Partners. He has written countless pieces on MensDivorce.com, detailing the plight of men and fathers going through the divorce experience, as well as the issues seniors and their families experience throughout the estate planning journey on ElderCareLaw.com. Mr. Pearce has managed websites and helped create content, such as the Men’s Divorce Newsletter and the YouTube series, “Men’s Divorce Countdown.” He also has been a contributor on both the Men’s Divorce Podcast and ElderTalk with TuckerAllen.
Mr. Pearce assisted in fostering a Cordell Planning Partners practice area specific for Veterans, as they deal with the intricacies of their benefits while planning for the future. He also helped create the Cordell Planning Partners Resource Guide and the Cordell Planning Partners Guide to Alternative Residence Options, specific for seniors with questions regarding their needs and living arrangements.