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RayAnswers
RayAnswers, Lawyer
Category: Family Law
Satisfied Customers: 40081
Experience:  30 years as a family law lawyer .
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If a property is purchased in the last year and a down payment

Resolved Question:

If a property is purchased in the last year and a down payment of approximately 35% was given by the parents of one party, does the other party have the right to ask for a half ownership?
Submitted: 7 years ago.
Category: Family Law
Expert:  RayAnswers replied 7 years ago.
Thanks for your question. The court would decide here. The presumptionis that the down payment was a gift and that this is marital property to be divided equitably. This can be argued to the judge and ultimately they decide the split. But in most cases I would tell you this is going to be split pretty evenly here. The down payment was considered a gift to both parties--it wasn't made conditional here in writing....

 

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Customer: replied 7 years ago.
The parents live in oversees (Not US Citizens) and were not aware of the difference between the gift and written (note) - loan. Not knowing the laws of United States does make any difference?
Expert:  RayAnswers replied 7 years ago.
Well you can argue it but honestly it was a gift here since there was no note.You can try but that is a long shot. Likely the court divides it here by law as marital property..