For most Americans, home ownership is their biggest investment. When you divorce, deciding what to do with the family home can be tough—especially if only one spouse’s name is on the title.
Many people believe that if their spouse’s name isn’t on the deed or title, they’re not entitled to a share of that asset, where it’s a home, vehicle or other piece of property. That’s not always true.
Marital vs. non-marital property
Minnesota considers any asset acquired by either spouse during the marriage “marital property.” All marital property is subject to division by the court, whether or not both spouse’s names are on the deed.
There is an exception for non-marital property. Non-marital property includes any asset acquired by one spouse, either before marriage, as a gift or inheritance to one spouse only, acquired in exchange for non-marital property or acquired after the court has already determined and valued the couple’s marital assets. Finally, certain property can be protected through prenuptial agreement or other valid pre-marital contract.
When does title matter?
Because the distinction between marital and non-marital assets can be tricky, courts can consider the name on the title. For instance, if you owned a home before marriage and your marital funds were never used for mortgage payments, property taxes or improvements, that may suggest that you intended to preserve the house (and its increase in value) as separate property.
Because separate property determinations can be complex, it’s crucial that you work with an experienced divorce attorney and any professional advisors they recommend. For example, a forensic accountant may be able to prove whether marital funds were used to acquire and improve the family home.
The skilled divorce lawyers at Appelhof, Pfeifer & Hart, P.A. in St. Paul, MN can advocate for your divorce goals. Call today to schedule a consultation.
