Legal Question in Family Law in California
Divorce-Community Property
I live in California. I owned my home (home A) for 7/yrs prior to meeting and marrying. 1/yr after marrying, we bought a home (home B) together. Both of our names are that home's loan and title. We kept my home (home A) and rent it out. The title and loan is still in my name only. I'm on long-term disability and that is my only income. My husband has a good job. If we refinance my home (home A), I'm sure my husband would have to be on the loan in order to qualify. If his name is on the loan, but not on the title, would Home A be considered community property in a divorce? And how would home A be considered and handled if we divorce? So far, I have paid all mortgage payments on home A. I want to be sure to get my house and full equity in a divorce. Best Regards, MJ
1 Answer from Attorneys
Re: Divorce-Community Property
Unless you have a premarital agreement in place, your husband has a partial interest in Home A and 1/2 interest in Home B.
The rent that was collected on Home A during the marriage will be considered community property. The interest which he has on Home A is roughly one half of the equity acquired during marriage.
You getting full equity on Home A absent a premarital agreement is not very likely. Your best bet is to try to negotiate such a disposition before it gets in the hands of a judge.
When you are ready to make your decision, feel free to contact us.
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