Legal Question in Family Law in California
My father quit claimed his condo to my husband and I only for my husband to apply for refinancing. My husband took the mortgage alone but my dad and I kept paying for the mortgage until my husband could contribute. We later sold that property and bought another party simultaneously with the proceeds of the sale of property one as down payment for property 2. My husband and I are getting a divorce. can the down payment be traced to separate property since my dad owned the condo that we sold and used as down payment?
Asked on 5/18/17, 6:23 pm
1 Answer from Attorneys
Gary R. White
Burton & White
Tracing is dependent upon documentation. If you have the needed documents relating to the purpose of the original transfer, etc. the down payment on the second property could be determined to be separate property.
Answered on 5/19/17, 4:23 pm
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