Question by Abbie_GirlsOwner: refinancing your mortgage?
ok here it is my husband refinanced his house this week, he bought the house 8 yrs ago. way before we got married, now i wanna know since he refinanced the house after we got married is the house marital property. i know if he was to buy it after we got married it is, but this refinance stuff i dont get.
no my name is not on the loan if it was he would of never got it lol. good idea i will check the state laws
Answer by EverTight
Is your name on the mortgage? On the papers for the property?
What state are you in? Check your state website in regard to marital assets. Most states, I believe, consider all property and items to be joint property of a married couple, unless specifically mentioned in a prenuptial agreement.
Give your answer to this question below!
No it isn’t marital property, unless your name was added when he refinanced the home. You could potentially claim an owernsip stake if he used marital income to refinance the home but in most cases all you will get is reimbursed part of any marital income used to pay for closing costs etc (and maybe some interest). Like before, the only thing you might receive is if the home appreciated in value over the course of the marriage (you would receive 50% of that increase in valuation. So if the was 100K and is now 120K, than you would be $ 10K. Given that property values have dropped like a rock in most market places, you probably won’t see much.
No God Damnit ! It’s a premarital asset and unless he changes the title to include you it will remain as such.
If you want a stake in the house , how’s ’bout you cough up 1/2 the equity and share in the mortgage , property taxes , insurances and upkeep ?
No. Not yours…