If I inherited a large amount of money and get a divorce, can I lose this money?
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If I inherited a large amount of money and get a divorce, can I lose this money?
If my husband and I purchase a house with “my” inherited money can I lose any of it in a divorce?
Asked on November 16, 2012 under Family Law, North Carolina
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Inherited money is considered to be separate property in a divorce. That is so long as it is not co-mingled with the other spouse's funds. In the case of a house, as long as only your money is used to purchase it, then it is yours. However, if you also use a mortgage to purchase the house (regardless of whose name it is in) and he helps to pay the mortgage, then he may obtain a partial ownership interest in it. Additionally, if helps to pay for improvements (or or makes them himself), he may also gain some rights in the property. At the very least, he will be entitled to reimbursement, plus interest.
You really should go over the specifics of your situation with a divorce attorney in your area before making any major purchases.
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