What is the name of your state?Rhode Island.
My husband inherited a large amount of money from his father's estate last year. We purchased a home in July 2004 which he used his inheritance as a downpayment ( as you would think, our mortgage is pretty cheap). I pay the mortgage.. he says other stuff. Both are names are on the deed and the title to the house. We also have a home equity line of credit in the amount of 100,000.00 which is what he put down on the house from inheritance. We have used 40,000.00 of that.
my main question is.. in the event of a divorce and we sold we sold house would i be liable for the money he put down ( the 100,000.00 ) ? he seems to think that i would being it was not my inheritance money. we have been married for 8 years.
any input to this would be apprecaited.
thanks !
My husband inherited a large amount of money from his father's estate last year. We purchased a home in July 2004 which he used his inheritance as a downpayment ( as you would think, our mortgage is pretty cheap). I pay the mortgage.. he says other stuff. Both are names are on the deed and the title to the house. We also have a home equity line of credit in the amount of 100,000.00 which is what he put down on the house from inheritance. We have used 40,000.00 of that.
my main question is.. in the event of a divorce and we sold we sold house would i be liable for the money he put down ( the 100,000.00 ) ? he seems to think that i would being it was not my inheritance money. we have been married for 8 years.
any input to this would be apprecaited.
thanks !