A Florida man sold his Georgia home and paid money from a joint account toward a new marital house; after a two-year marriage ended, an appeals court ruled he could not get separate credit for that down payment
- The court found the funds had become marital property after entering a joint account and financing their jointly owned home.
- A home bought with money earned before marriage may seem to be a clear case of separate ownership.
- However, the legal character of those funds can change when they pass through a joint bank account and are then used to purchase property in both spouses' names.
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- The court found the funds had become marital property after entering a joint account and financing their jointly owned home.
- A home bought with money earned before marriage may seem to be a clear case of separate ownership.
- However, the legal character of those funds can change when they pass through a joint bank account and are then used to purchase property in both spouses' names.
Sources: Times of India