When does pre-marital property convert to marital property?
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When does pre-marital property convert to marital property?
I own 50% of a house prior to getting married and the other 50% were transferred to me as a gift after marriage. The house was brought more than 10 years before marriage. The marriage is going into the third year. The house mortgage is fully paid 2 years after marriage. No marital funding was used for anything on the house; however both my wife and I use it as our primary residence. This is also a 2 family house where my parent resides in the first floor apartment and my wife and I reside in the second floor apartment. Does the house become marital property?
Asked on August 23, 2012 under Family Law, New York
Answers:
david slater / david p.slater, esq.
Answered 11 years ago | Contributor
Not unless your wife gets on the deed. Any increase in value will be taken into consideration should the issue be raised in any divorce proceeding. It is part of your estate.
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