Legal Question in Family Law in California
divorce proceeding
I seperated in 1993,I am in the middle of divcorce proceedings now there is a question about my Husbands busines. Is it appraised at its worth in 1993 or 2000?
And if I stayed in the home and payed the mortgage,tax,insurance and up keep do I owe him any money?
1 Answer from Attorneys
Re: divorce proceeding
Property is valuated at or near the time that it is divided. The business should be valued at it present value. There may be a question about a separate property interest of your husband as he has been running th business. I would start with the proposition that it is all community property.
Assuming the house is all community property, the fair market rental value minus the monthly mortgage payment gives the differential. If the difference is negative then he owes you one half and if positive you owe him one half.
You should be reimbursed for one half of any large repairs, such as water heater, roof, etc.
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