Legal Question in Family Law in California
I have a house that I owned outright (no mortgage) prior to marriage. After marriage, my wife moved in with me and we've used joint earnings to pay for property taxes and utility bills, but made no major improvements to the home.
We're thinking of moving to another home.
If I sell the current house and deposit the proceeds into a new separate brokerage account, will the proceeds still be considered separate property? Does opening a new account during marriage (to deposit the sale proceeds into) create any community property issues?
1 Answer from Attorneys
There are many possible ways in which separate property can be transmuted to community property. You are risking a large sum of money on an internet statement, that would be made without a full discussion into the problem. Consult with a family law attorney.
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