Separate property question.

[tbraquet]

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

If I recieved a money gift from my parents to purchase a house while married is my spouse intitled to that portion of the equity? Ex: I recieved $10,000 from each of my parents, I have letters from them stating it is a gift and to be used for the purchase of a home. After the purchase of the home I get a divorce. Will my spouse be intitle to the whole equity or the equity minus the $20,000?

Thank you.

 

[Ohiogal]

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

If I recieved a money gift from my parents to purchase a house while married is my spouse intitled to that portion of the equity? Ex: I recieved $10,000 from each of my parents, I have letters from them stating it is a gift and to be used for the purchase of a home. After the purchase of the home I get a divorce. Will my spouse be intitle to the whole equity or the equity minus the $20,000?

Thank you.

Whose name is on the deed?

 

[Ohiogal]

Caselaw

2009-TX-0806.380
BEAN v. MASSOUD
states the following:

Carolyn moved for summary judgment against John on the issue of whether the house was community property or her separate property. The characterization of the property hinged on whether John made a gift to Carolyn of his community share of the property by agreeing the property would be deeded solely to Carolyn as her separate property. John attempted to raise an issue of fact on the characterization issue by claiming funds from a trust account established for Madeline were used to pay a portion of the purchase price. However, a trial court could properly conclude the source of the funding to purchase the property did not affect the characterization issue. See Wilkerson v. Wilkerson, 992 S.W.2d 719, 722-23 (Tex. App.-Austin 1999, no pet.) ("Once the character of the property is fixed, the use of funds of another estate to complete the purchase does not alter the character of the property, although the other estate may be entitled to reimbursement for the funds contributed."). Any equitable claim by Madeline to the property would exist regardless of the characterization of the property as between Carolyn and John.

Also see 2009-TX-0330.587
PHILLIPS v. PHILLIPS
for some law on reimbursement. It may be possible to recoup the 20k against the equity but it depends on more details that you have not shown.

 

[mistoffolees]

Whose name is on the deed?

Also, was the money received and then immediately put toward the house or was it mingled with all your other finances?

 

[tbraquet]

The financing is in my name only. The deed has both because in Texas I was told it can not be in only one name. The gift was solely for the purchase of the house therefor it was not mingled elsewhere before. It was deposited and then had a cashiers check written for the downpayment.

 

[Ohiogal]

The financing is in my name only. The deed has both because in Texas I was told it can not be in only one name. The gift was solely for the purchase of the house therefor it was not mingled elsewhere before. It was deposited and then had a cashiers check written for the downpayment.

The caselaw I found applied to where the house was only in one name. And that was in Texas. Hence, you may have issues. YOU GIFTED her the portion of the house (including equity) if she is listed as an owner on the deed. That is an issue. You may be able to show by tracing that the gift was just to you HOWEVER that may not mean she doens't split the entirety of the equity.