Legal Question in Family Law in California
I live in California and I am going through a divorce. I have the following question about dividing our current home after it sells. In July 1998 when my was single she purchased a home. In October 2001, we were married and then in January 2002 we refinanced the home and I was added to the title (Joint tenants). In June 2003 we sold this home and all the proceeds were used as a down payment on our current home that we have owned for 10+ years. When this homes sells, how should the monies be divide after the remaining loan is paid off?
2 Answers from Attorneys
If there was no agreement entered into at the time of the refi, and/or the sale and purchase of the new home, there is a rebuttable presumption that your wife intended to make a gift to the community of the equity in the house she owned. If she rebuts that presumption, she would be entitled to reimbursement of the actual equity in her house at the time you got married out of the proceeds of the current home, and the remaining equity would be divided 50/50.
Property held in joint tenancy or acquired in joint tenancy is presumed to be community property unless there was a statement otherwise in writing. Community property is split 50 50.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
