Will it be a marital asset?

Of course it will. The money would be a marital debt and the business would be an asset.

The gift itself would be nonmarital but it certainly sounds as though you intend to commingle it by purchasing property (with a mortgage) and then paying the mortgage off with marital funds. So, yes, in the end, it is likely the property would be considered marital property subject to equitable distribution. Of course, we are not mind readers and don't know your intent for the gift...but that's how it sounds to me.

If that happens, you will need to keep very good records to show this was a gift to you alone and not for both you and your husband. If you use marital income (ie your real estate commission) to service this real estate purchase, it may become a marital asset. You may want to sign a Promissory Note to your father to repay his investment and make it a loan instead of a gift. Hope this helps. NTLG PA.

If the money comes from a non-marital source and it is gifted ONLY to you, then it is a non-marital asset. It becomes marital when you co-mingle it but adding marital funds to the gift. For example, if you put the money in a bank account, do not add other money because that other money is marital. My boss, Thomas Mulinazzi (www.mulinazzi.com) explains it this way: When you are single you own "blue" property/money if you are a man and "pink" property/money if you are a lady -- this is pre and NON-marital property. When you get married, you paycheck, savings, anything you buy during your marriage is "purple" marital property. If you get a gift from a third party just to you it is "pink" money. If you invest in a real estate business, it is still "pink" until you put "purple" money into the business - which you will inevitably do. Then you have a co-mingled "mixed" asset (pink/purple). There are ways you can keep your business non-marital. Talk to a divorce attorney in your area to get advice on how to better plan, e.g. sign an agreement with your spouse, etc.