Legal Question in Family Law in California

How much is due to husband and how much to wife?

Home one

1. Purchase price 9/1999 for 305,000 by husband

2. Amount of down payment 60,000

3. Amount of principal loan payments with separate funds 20,000

4. Fair market value at time of marriage 9/06 750,000

5. Amount of payments on loan principal made with community funds 12,000

6. Price sold for 9/09 530,000 (280,000 equity after closing costs)

also - in 3/09 the couple refinanced their home and lost 7,000 of the principal payoff

Fair market value at time put on title 3/09 530,000

Community fund upgrades 10,000

Separate fund - wife - upgrades 10,000

Home 2 bought 09/09

1. Purchase price 719,500

2. Amount of down payment 280,000 from sale of 750 24th ave

And 25,000 from wife's premartial funds

3. Amount of loan payments with separate funds - husband - 7000

4. Amount of principal loan payments with community funds 9000

5. Sale price $775000 (730,000 after closing costs)

10,000 wife's premarital fund upgrades

10,000 husband premartial fund upgrades

20,000 community property upgrades


Asked on 2/24/13, 10:06 pm

2 Answers from Attorneys

Lyle Johnson Bedi and Johnson Attorneys at Law

Your question raises some complex issues regarding reimbursement of separate funds used to purchase real property. The general rule is that the individual contributing separate property to the purchase of real property is reimbursed the amount of the separate funds, to the extent that there is sufficient equity to cover the separate fund invested. There is no reimbursement for taxes, interest and insurance paid for with either separate or community funds. Also it is unclear as to the disposition of the first house. Assuming that it was sold and the equity was invested in the second home it appears that the amount of equity would be around $20,000 which would be divided in shares depending upon how much each of you actually contributed to the purchase price. All funds for reimbursement, as a general rule, must come from the equity of the house. You should gather all the documents that support the facts you laid out in your question and discuss them with an attorney.

Read more
Answered on 2/25/13, 3:58 pm
Daphne Macklin Law Office of Daphne L. Macklin

I agree with Attorney Johnson. You have a lot of resources at issue and while an attorney may seem expensive truly protecting yourself in this matter requires that you rely on the expertise of a competent professional.

Read more
Answered on 2/25/13, 6:21 pm


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in California