If your house is in your spouse’s name or your spouse’s parent’s name, you should contact a family law attorney at Heimerl & Lammers to help you navigate the intricacies of this complicated issue.
If your house is in your spouse’s parents name, this can cloud the issue of the disposition of the home. It depends on the circumstances surrounding why the house is in your spouse’s parents’ name. Because each circumstance is unique, you should contact a family law attorney at Heimerl & Lammers to advise you on this issue.
If your spouse’s parents purchased the home for you and your spouse and charged you rent, but never had any intention of you keeping the house, then this is typically treated as a rental property and you would not get any equity out of the home. You should be prepared to have documentary evidence showing the rent you paid.
If the parents purchased the home with the intention that you would pay them for the home (i.e. you have a mortgage through them), then the home’s equity would be divided equitably. If the parents bought the home outright and gave it to you and your spouse as a gift, then value of the home would be divided equitably. It is important to note that equitably does not mean equally- although it can sometimes be an equal division.
If you and your spouse fall into any of these categories, you should contact a family law attorney at Heimerl & Lammers to advise you through this process and ensure you get the total value of your anticipated assets.