Legal Question in Family Law in California
Community Property
Live in California Married 3years both have separate apt.building before marriage, I buy 100units in Texas using my soul separate property to secure loan, ten years later we divorce I sell is the Money now become commuity property during the ten year peroid. yes or no
3 Answers from Attorneys
Re: Community Property
Depends on the the source of the funds and what funds were used to make the payments during the course of the marriage. There are fomulas used to calculate and divided the appreciation. Please feel free to contact my office should you have further questions.
Re: Community Property
If the property was separate prior to marriage the general rule is it is separate going out of the marriage. A portion may be attributed to the community via a formula used which takes incomes of the parties into consideration. It would be advisible to get representation when assets are great. Contact me directly.
Re: Community Property
Probably the property is not community property, unless the property title was taken in joint names. If title was taken in both names then you should have a reimbursement credit for the separate funds you put in to purchase the property, but the property is presumably community. Good Luck, Pat McCrary
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