House - Community vs Separate Property (TEXAS)

[Texas0409]

What is the name of your state (only U.S. law)? Texas

Getting a divorce and need to know my legal rights to the house. My husband purchased a house about a year before I moved in and start contributing to the mortgage payments. About two years later is when we got married (Three years total contributing to mortgage before legally married). Question - am I entitled to half the equity in the home or only half the principle amount I payed into the loan? Appreciate any advice.

 

[penelope10]

What is the name of your state (only U.S. law)? Texas

Getting a divorce and need to know my legal rights to the house. My husband purchased a house about a year before I moved in and start contributing to the mortgage payments. About two years later is when we got married (Three years total contributing to mortgage before legally married). Question - am I entitled to half the equity in the home or only half the principle amount I payed into the loan? Appreciate any advice.

Your husband purchased the home prior to marriage. Any funds he used would be considered separate property and could be deducted from the equity of the home. For instance, let's say your spouse put 10,000 down on the home. That 10,000 came from his separate property. The court would equitably decide what the split would be based on his contribution prior to marriage.

And in today's market there may not be a lot of equity in the home. Sounds like the home may have been purchased at the height of market value (About 4 years ago?)

 

[Texas0409]

Thanks for the advice.

 

[mistoffolees]

Your husband purchased the home prior to marriage. Any funds he used would be considered separate property and could be deducted from the equity of the home. For instance, let's say your spouse put 10,000 down on the home. That 10,000 came from his separate property. The court would equitably decide what the split would be based on his contribution prior to marriage.

And in today's market there may not be a lot of equity in the home. Sounds like the home may have been purchased at the height of market value (About 4 years ago?)

There's actually an easier calculation.

What was his equity in the home the day you got married?
What is the equity today?

You are entitled to half the difference (if there has been any gain at all- which there might not be).

 

[kimberlywrites]

There's actually an easier calculation.

What was his equity in the home the day you got married?
What is the equity today?

You are entitled to half the difference (if there has been any gain at all- which there might not be).

If husband was forced to sell the house (maybe he can't afford it now without her income), and it sold for less than what is owed...would wife be responsible for half that debt? Just curious if it works both ways.

 

[mistoffolees]

If husband was forced to sell the house (maybe he can't afford it now without her income), and it sold for less than what is owed...would wife be responsible for half that debt? Just curious if it works both ways.

I'll let someone else answer the legal question, but since she would have expected to benefit from any gain, and since she lived in the house, I would say that the right thing to do is for her to pay half of any decline in equity during the marriage.

 

[LdiJ]

I'll let someone else answer the legal question, but since she would have expected to benefit from any gain, and since she lived in the house, I would say that the right thing to do is for her to pay half of any decline in equity during the marriage.

If he qualified for the mortgage by himself, he should be able to afford the mortgage by himself. Therefore to me, its kind of a moot point.