shortmort37
New Member
- Jurisdiction
- Pennsylvania
I am asking this question on behalf of my daughter.
Five years ago, I gifted her with $40K to put a down payment and cover settlement costs on a foreclosed house in a gentrifying neighborhood in Philadelphia. The house was a steal at $140K; it had been renovated, and comps in the neighborhood are now over $300K.
A year after she moved in, she married. The house remains solely in her name. He has considerable loan and child support obligations; she can document that she has paid all of the mortgage payments and RE taxes from her account; all of the utilities are in her name, she has paid those as well. He pays no "rent", although they do share the costs of groceries.
For what it's worth, they have a child.
She is now seeking a divorce. I understand that PA is an "equitable distribution" state, but what is equitable in this situation? She is working but also going to school, and he does not contribute to her education, and childcare at home is shared. What other factors are to be considered - and, what are the chances she will be awarded the home, without having to tap the equity for any kind of settlement?
Five years ago, I gifted her with $40K to put a down payment and cover settlement costs on a foreclosed house in a gentrifying neighborhood in Philadelphia. The house was a steal at $140K; it had been renovated, and comps in the neighborhood are now over $300K.
A year after she moved in, she married. The house remains solely in her name. He has considerable loan and child support obligations; she can document that she has paid all of the mortgage payments and RE taxes from her account; all of the utilities are in her name, she has paid those as well. He pays no "rent", although they do share the costs of groceries.
For what it's worth, they have a child.
She is now seeking a divorce. I understand that PA is an "equitable distribution" state, but what is equitable in this situation? She is working but also going to school, and he does not contribute to her education, and childcare at home is shared. What other factors are to be considered - and, what are the chances she will be awarded the home, without having to tap the equity for any kind of settlement?