Legal Question in Family Law in California
Property Value
When dividing property, is current equity the only factor, or does potential future valve come into play? Example, we own 1 duplex, 1 rental home, and 1 home we live in...My wife wants to give me the one rental house while she keeps the rental duplex and the home we live in. She says the equity in the single home is equal to the the equity in the combined property. If done based upon current equity only she will be '' fat and happy'' in a short amount of time as the other will continue to grow greater than the single home.
Thanks in advance for this forum
2 Answers from Attorneys
Re: Property Value
If divided by the court, the court will make an equal division of the property as of the date of the trial. You do not have to accept her offer, however, the division will need to be equal and if neither of you wants the single family residence then that property should be sold so that each of you can bear the cost of sale equally and then each of you can keep or purchase the property that you would like to invest into. With that type of investment, you should have the advice of an attorney, because frankly you are asking the wrong questions and using the wrong strategy and analysis. Good Luck, Pat McCrary
Re: Property Value
present and future value should always be considered in dividing real community property. if you feel that you would be losing out in the longrun by accepting her offer to keep the one property while she keeps the other combined property, do not accept her offer and continue negotiating. if you would like further assistance, contact my office. thanks.
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