Legal Question in Family Law in California

Re: Buying a spouse out of the family home

Dear Inquirer:

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http://www.CaliforniaDivorceAttorney.com

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NOW, IN RESPONSE TO YOUR INQUIRY --

Ownership of the property and responsibility for payment of the note are separate and distinct. Contact an experienced Family Law attorney in the county where your divorce is pending for specific advice and possible representation on your behalf.

Thanks for sharing your interesting inquiry with us on LawGuru, and good luck with your case.

Re: Buying a spouse out of the family home

Yes, it does relinquish your rights and probably your obligations on the house. You should not sign anything until you have all of your property issues settled. Also, the better procedure is that you sign the deed at escrow, with escrow instructions that state that you should be paid your settlement out of escrow. You risk much by just signing the deed. The best procedure is that you have a judgment, then and escrow. Maybe you should talk to an attorney in order to protect your interest in the community property. Good Luck, Pat McCrary

Re: Buying a spouse out of the family home

not necessarily, the primary or sole intent of the lender extending the loan to your husband is most often controlling in these matters. i would need to know more about the loan your husband is taking out and whether or not you may have liability for repayment in the event of his default based on the language of the loan docs. further, you should be very careful in signing any deeds or other documents that your husband presents to you prior to your divorce being finalized and especially without attorney representation of your own in these matters. you could end up losing alot in community property or overall marital settlement rights if you sign paperwork prior to having an attorney represent your legal interests fully in all pre-divorce marital agreements. an escrow account may be the better option to have the deed delivered to you from the facts given thus far. if you would like further legal assistance and/or representation in this matter, please email my Law Firm directly today with more details as well as what you would like to see happen here.

Re: Buying a spouse out of the family home

If your husband refinances the house and you are not on the application for the loan you would not be liable for any default.

Further the money that he pays to you is not taxable to you. You receive the money tax free. He pays the income taxes when he sells the house.

You should either hiere an attorney to represent you or at least to review the documents for the sale of the house.

Also you need to ensure that you are being paid a fair price for the house.