Legal Question in Family Law in California

Division of home equity

In 94 my ex and I bought a house and lived in it for about 5 years. During that time we built up $10000.00 in equity. About 3 yr. ago we divorced and I still live in the property. In that three yr. I have built up an additional $10000.00 in equity. At the time of divorce (we had been married for 9 yr.) the court retained the right to deal with the property as it sees fit. I have not heard anything from the court sense. The property value has also increased. By about 10000.00 but at the time of divorce it had about the same value as when we bought it. I plan on keeping the house. What I would like to know is what dollar amount is my ex entitle to if I buy her out? Both are names are on the title and loan papers.


Asked on 12/16/02, 3:09 pm

1 Answer from Attorneys
PATRICK MCCRARY PATRICK MCCRARY

Re: Division of home equity

Without additional facts it sounds is if she is entitled to one half of the equity in the house at the time that the equity is divided. There are exceptions, however, they are very narrow. You are dealing with enough money that you are better off getting an attorney to help you calculate the equity that is due to her. The court does not push these matters forward until one of the parties asks the judge to make a decision. Good Luck, Pat McCrary

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Answered on 12/17/02, 1:23 pm


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