Legal Question in Family Law in California
Is Inheritance community property
My wife is filing for divorce. We bought a house 14 months ago and our entire down payment of $160,000.00 was from my fathers inheritance to me. We have also about $200,00.00 equity in the house. Will I get $160,000 of that equity since it was from my inheritance or will we have to split it 50/50?
3 Answers from Attorneys
Reply: Is Inheritance community property
If you can trace the $160,000 to your inheritance, it is your separate property and should get it back off of the top, before the remainign sale proceeds are divided between you.
I suggest that you consult with an experienced family law lawyer. Experience is not expensive, it's priceless!
You will find some valuable information on various family law issues at my web site.
Good luck to you!
Brian Levy, Esq.
www.calattorney.com
Re: Is Inheritance community property
You should first get your inheritance and then the balance of any equity should be shared in CA. You should also retain counsel to make sure your rights and interests are properly protected.
Re: Is Inheritance community property
Your inheritance is your separate property and you are entitled to a dollar for dollar reimbursement. Over and above your separate property, you are entitled to 50% of the equity. You will have to provide proof to the court for tracing purposes. Considering the amount of money involved, prudence dictates that you retain the services of an attorney to protect your rights.
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