If the parents of one of the partners gives $100,000 which is used to pay off the mortgage on the matrimonial home. Now that they have separated, that money from the parents given can be requested to be returned.

Money from a gift or inheritance received by one spouse that goes to paying for the family home remains as part of the value of the house. This cannot be excluded from the value of the matrimonial home. If a gift or inheritance goes to a specific spouse and is kept separate, it can probably remain with the recipient if careful records are kept before and during marriage. If the money was received after marriage, proof must be provided to show that the money was given and also was kept separate from the spouse’s assets while married.

Category: Myths & Facts