What if you building a house and now getting divorced – Who gets the money?

So I received the question:

What if you building a house and now getting divorced – Who gets the money?

Of course in the law, the quick answer is: it depends.

There are no clear cut answers to this question, but we can provide you with some guidance. Although in truth you should give us a call to discuss in more detail the facts of your case.

The first principle to remember in Utah divorce and family law is that courts will divide any property that you acquired during the marriage in a 50-50 fashion. This is the typical rendering according to Utah Code 30-3-5. However, courts have what are called equitable powers which allows they to deviate from the 50-50 split.

Remember, when it comes to equitable distribution of marital property the standard is typically fifty percent to you and fifty percent to your spouse. This is usually how it works. It is not always how it works, because the actual facts of your case matter and judges will listen to facts and change their minds when it comes to cases.

So, what are the facts in this question?

If you jointly are building a house and you are using joint funds from a joint bank account; then, the answer is likely to be you will split the monies equally because this house is being built during your marriage.

If you have a pre-nup – that could possibly change things as well.

If you inherited the money and you kept the money in a separate bank account (avoiding all co-mingling of funds) – then, you may be able to claim that the house is separate property and get all of the money.

It really depends on the facts.

I hope this has been helpful.

If you would like additional information or to speak with a Utah Divorce Lawyer about your case, give us a call. We would be happy to give you a free initial consultation.

Thanks for visiting –

Mike

best divorce lawyer in Utah

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States

Telephone: (801) 676-5507

SEO by Jeremy Eveland

Source: http://lawyerdivorceutah.com/2017/04/05/divorce-question-what-if-you-building-a-house-and-now-getting-divorced-who-gets-the-money/


Source: https://divorcelawyersaltlakecityut.wordpress.com/2017/04/05/divorce-question-what-if-you-building-a-house-and-now-getting-divorced-who-gets-the-money/

Advertisements