What are the rules regarding business and properties owned before a marriage?
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What are the rules regarding business and properties owned before a marriage?
If we were married after the house and/or business was purchased, would I still be entitled to half?
Asked on December 5, 2012 under Family Law, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Having an asset in one spouse’s name alone doesn’t make that asset separate property. The test used by the courts is whether ownership has arisen from the proceeds of the marriage. Basically, if an asset was purchased during a marriage and paid for out of a spouse’s salary, it’s marital property. If it was owned prior to marriage then on the outset it is considered to be separate property. Now, certain assets deemed to be separate out the outset can be deemed marital property or quasi-marital property. That could include co-mingling of funds considered separate to begin with or if one of the spouses does something active to increase the value of property owned prior to marriage: worked in the business to increase its value, etc. Seek legal help. Good luck.
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