Full question:
My wife and I have been separated for the past two weeks. We bought a house about 9 months ago and the house is in my name. Should we get a divorce will I be able to keep the house?
- Category: Divorce
- Subcategory: Property Settlements
- Date:
- State: Indiana
Answer:
Under Indiana law, your wife may be entitled to half of the equity in the house that was built since you purchased it. Determining the exact amount of equity can be complex and may require an appraiser's help. If the house's value has increased since you bought it, she would typically receive half of that increase at the time of divorce. For example, if the house was worth $50,000 when purchased and is now valued at $75,000, your wife would be entitled to approximately $12,500. However, since her name is not on the title, it is unlikely a judge would award her the house itself.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.