Legal Question in Family Law in California
Assets
What is situation when one party has a home prior to the marriage? Does all property and assets become community property when you marry? We have been married for 2 1/2 years.
Asked on 3/16/09, 6:27 pm
1 Answer from Attorneys
Colin Greene
Russakow, Greene & Tan, LLP
Re: Assets
No. If you owned a property prior to marriage in your name only, it is your separate property. Once you marry, it remains your separate property. However, after marriage, to the extent you use community property to pay down the principal on the mortgage, the community estate gains an interest in the property in an amount proportionate to the paydown of the loan principal.
Answered on 3/16/09, 7:34 pm
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