Question about dividing home equity...

[PTAaron]

What is the name of your state? Michigan

Here is my situation... Been happily (or so I thought) married for 2.5 years... wife has decided that she is too young and wants to be "independant"...
So anyway - just under a year ago we bought a condo. Her parents gave us a gift of $10,000 which we used as a down payment on the condo.
We have agreed that I will keep the condo after the divorce - and we are not going to have any lawyers involved in the situation since we are able to both agree on the division of all of our property.
The problem is this: She has requested that I buy out her half of the equity we have gained in the condo (not a problem) PLUS return her half of the $10,000 that was given to us by her parents!
My question is: Does she have any grounds for this request that would hold up if we did end up having to get lawyers and fight this out?
The way I see it is that we both chose to invest our share of the money in a condo - so she is entitled to half of the "profit" and that is all... like the stock market - you invest $1000, and if you pull it out at the wrong time you might only have $500 - you don't get that $500 PLUS the $1000 you invested!

Who is right here?

 

[emmahunter]

gift

My opinion is that she should get all of the 10 grand plus half the equity it got durring ownership. It was a gift to both of you but it was from her parents. They gave the money to you all because they thought most likely that this marriage was going to work out. If anything, she should pay her parents the 10 grand back.

I have a similiar situation where my parents gave us 10 grand for a house. My feeling about is that I owe that money back to them. As for the equity, it should be cut in half.