DivorceNet����¯�¿�½���¯���¿���½����¯�¿�½������®

We (at least I think that's the right term) own a property that is in my wife's name. During the time we were living together, but before we were married, we bought it as vacant land in a 1031 exchange for 2 rental houses that my wife had owned. After getting married we built a house on the property. I designed the house, and served as the general contractor in its construction. In a divorce situation, how would the equity be divided?

I just want to make sure that i understand your situation:
Wife owned the 2 houses, you exchanged these 2 houses for the land, got married, built a house on the land that your wife owns. House and land in wifes name?
Your name is not on the house, land, mortgage.. nothing?

That is correct -- property is still in my wife's name.

I forgot to add -- there is no mortgage or building loan involved. We own it free and clear -- house and all.

land is a premarital asset and is hers.

If house was built after marriage.... is there a mortgage on it? Can you prove that you have financially contributed to the mortgage or cost of house?

You would without a doubt need an attorney to settle this. Property can be divided any which way that 2 divorcing people can agree to. But if you are looking for cut and dry, you will need the advice of an atty.

It would seem to me that the vaule of the land is all hers. It would seem to me that IF you can prove that you financially contributed to the house that stands on her property, you might be entitled to a division of equity on that... house only, not land. In my theory, you would need 2 appraisals.. 1 for the land and 1 for the house on it.

" It would seem to me that IF you can prove that you financially contributed to the house that stands on her property, you might be entitled to a division of equity"

I don't think it would work that way. When the sold houses were converted into a new home after marriage, it became marital property. As for financially contributing, I don't think it makes a difference. If it did, then all SAHP would be "out in the cold" upon divorce.

From experience, a friend of mine converted $110,000 of his pre-marital savings into a new home in 1989 (a couple weeks after getting married), and when they divorced in 2003, he had to pay 1/2 the equity to his ex. The house has grown in value to 250K, so he had to pay $125,000.

read original post again.
She had 2 rental houses.. before marriage
She did some kind of trade for a piece of vacant land.. before marriage
They married
THey built a house.. no mortgage.. land in her name and somehow house in her name.

I think it is hers.. at least the land is. HE might get 1/2 the house on the land though. that is my guess.

"HE might get 1/2 the house on the land though. that is my guess."

This is probably true, but it sucks. He shouldn't have a claim to any of it logically. It wasn't purchased with "his" money.

I do agree with you on that.
There is likely some part of this story that we won't know.. and that is WHY has he not been put on title to this land and house?

I read alot of questions people have here about property, cars and titles/deeds. It seems that most are under the misconception that "if your name isn't on it, you have no right to it." What they find out in many instances is it doesn't matter whose name it's in...it belongs to both.