I purchased a house before I was married & I am the only one on the titled of the house. I made Majority of the income in the marriage. Does my husband get half of the earrings of the sale of the house? We separated at nine years of marriage.
Your husband does not receive half of the earnings, but he is entitled to some of the sale proceeds based on the payments made during marriage (specifically, the principal loan balance reductions) and a pro rata portion of the appreciation of the house during marriage. This is a complex calculation that would require a lot of data and likely an attorney’s assistance.
We have a question regarding a property and how to classify it. The respondent created a machine learning online tool that is to be used by engineers. This tool was created while the petitioner and respondent were still married, living together and the petitioner paying all the expenses for the place (house) in which the respondent lived and worked on this project. The petitioner was also the primary person who took care of the children during this time. Currently, this project is currently not earning any money but will be. Would this property be considered community property? Does community property need to have a dollar amount applied to it or can it be in percentages for things in which a value has yet to be quantified or valued? Thank you for your help.
Yes, the project would be considered at least partially community property. Either a dollar value or percentage of interest in the property could be assigned; however, trying to quantify its value now (when the property hasn’t generated any income and hasn’t been sold) is not really possible right now.