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4711
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What is the name of your state?
TEXAS
I have been married for 4 years and am looking into divorce. I am expecting a long hard battle over who gets custody for our 2 year old child, but that's a different matter.
When we purchased a new home 1.5 years ago (in my name, because of my wife's super bad credit), I used about $10,000 that my parents gave me as a "pre-inheritance". We actually set up a contract to that effect stating that when they die I will receive $10,000 less than my other brother. It is my understanding that this money is considered separate property and not community property. This money represents approx. 75% of the net value gained from the time we bought the house until today (I took the official appraisal value used for the tax determination and substracted the outstanding priciple balances). What are my wife's chances to get the house once all is set and done?
TEXAS
I have been married for 4 years and am looking into divorce. I am expecting a long hard battle over who gets custody for our 2 year old child, but that's a different matter.
When we purchased a new home 1.5 years ago (in my name, because of my wife's super bad credit), I used about $10,000 that my parents gave me as a "pre-inheritance". We actually set up a contract to that effect stating that when they die I will receive $10,000 less than my other brother. It is my understanding that this money is considered separate property and not community property. This money represents approx. 75% of the net value gained from the time we bought the house until today (I took the official appraisal value used for the tax determination and substracted the outstanding priciple balances). What are my wife's chances to get the house once all is set and done?