House Considered Marital Property

[bubbasmom]

I live in NJ. Before my husband & I got married he said his plans were to build a house on a property he inherited & pay for it with money he inherited. I agreed to sell my house & move there. Because of the market I could not sell my house, my husband took a huge paycut & I wound up forclosing on my house. In the meantime the new house project went way over budget & we had to take a $75,000 mortgage to finish the project. I have been paying that mortgage and 90% of the household bills for the last 2 years. Now my husbad is threatening divorce. Am I entitled to any part of the house? or am I screwed? I do not have any savings because I have been paying most of the bills & I have a forclosure on my credit report. We do not have any children.

Thanks!!!!

 

[LdiJ]

I live in NJ. Before my husband & I got married he said his plans were to build a house on a property he inherited & pay for it with money he inherited. I agreed to sell my house & move there. Because of the market I could not sell my house, my husband took a huge paycut & I wound up forclosing on my house. In the meantime the new house project went way over budget & we had to take a $75,000 mortgage to finish the project. I have been paying that mortgage and 90% of the household bills for the last 2 years. Now my husbad is threatening divorce. Am I entitled to any part of the house? or am I screwed? I do not have any savings because I have been paying most of the bills & I have a forclosure on my credit report. We do not have any children.

Thanks!!!!

Yes, you are entitled to a portion of the equity in the home. It may however, not be a very large portion. You had best consult with a local attorney, with all of the paperwork in hand.