Legal Question in Family Law in California

computing spouse's equity in home

Where can I find the formula(s) to compute this? I think it's something to do with Moore-Marsden or Andersen?? I know that an attorney can compute this figure, but I really want to know it is computed.

85: I bought house in my name for 126K; 13K down

89: got married

92: refinanced and added wife to title as joint tenant. previous mortgage balance 113K; appraised value 205K

9x: refinanced again

8/02: separated; I'm staying in house and making all payments

Current 1st mortage is 175K, home equity credit line is 41K, home value is (maybe) 400K

thanks


Asked on 9/08/02, 6:20 pm

1 Answer from Attorneys
PATRICK MCCRARY PATRICK MCCRARY

Re: computing spouse's equity in home

There is no real formula to compute the equity. Generally, the equity that you had in your home at the time of the refinance in 1992 is owed to you by the community as a reimbursement. There are some complexities and you should have the whole situation reviewed by an attorney to make sure the computations are correct. Good Luck, Pat McCrary

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Answered on 9/09/02, 10:18 am


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