Prior to our marriage, I put down a $10,000 down payment for the house we purchased together. We are now divorcing. What is...
Full Question:
Answer:
If the house was acquired during the marriage, it is considered marital property unless it was purchased by one spouse with entirely separate funds, and only that spouse appears on the title. If the house was acquired by one spouse prior to the marriage, it is that spouse's separate property unless marital income has been used to pay the mortgage or the house became jointly titled.
Utah is a so-called "equitable distribution" state. This means that the division of property and debts between the divorcing parties should be fair and equitable, but not necessarily equal. The court has wide discretion in dividing property.
The "separate property" of one spouse may be divided up if the property "belonging to" one of the parties should be included in the marital estate for purposes of an equitable division. Generally, separate property acquired before the marriage or by gift or inheritance during the marriage may be excluded from the marital estate if neither the property nor its income has been used for the common benefit of the parties during their marriage.