Legal Question in Family Law in California

martial property laws

I am trying to find out what legal rights I have regarding

my house. I am a married woman who bought this

property with my spouse, but I am the only one on the

loan due to the fact that my husband was out of work

when we purchased the property. He was originally

excluded from the deed but we have since added his

name to the deed but not the loan. I have been making

the house payment since we moved in around july of

this year. We are now considering putting the house up

for sale and divorcing. I want to know if I would be

responsible for paying capital gains taxes. I also need

to know what part of the down payment which came

from his other property before marriage would I if any

be entiled to .


Asked on 10/14/02, 4:43 pm

1 Answer from Attorneys
Matthew Kremer Law Offices of Matthew M. Kremer

Re: martial property laws

That's a fairly complicated fact scenario. Just going on what you stated, and assuming he signed a quitclaim when escrow was closing, you would be entitled to the equity existing as of the date you put his name on title, less his separate property contribution. So if he put in $50,000 and equity when his name went on title was $75,000 and equity now is $150,000, he would get $50,000, you would get $25,000 and the balance of $75,000 would be divided equally.

This does not take into account the possibility of a quitclaim acting to waive his F.C. 2640 claims (that $50,000 he put down) nor possible Moore/Marsden claims (use of c/p funds to pay s/p mortgage payments).

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Answered on 10/14/02, 5:12 pm


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