Legal Question in Family Law in California
Property Division
The cuurent home that we live in was soley paid for by the sale of my home that I owned prior to the marriage. I was advised that I am entitled to the larger percentage of the profit. can you give me a general break down of what I am entitled to and what he is entitled to. Also I need to know how a refinance would afect this entitlement.
3 Answers from Attorneys
Re: Property Division
If this was paid for by you, then, it should be your own property unless you commingled. If you commingled, then, typically 50/50. Not enough information here to answer. Need to know things like the purchase price, name on deeds, if a mortgage who paid, what did spouse pay, if anything, etc. Good luck and thanks for inquiring.
Reply: Property Division
Family Code Section 2640 gives you reimbursement for your separate property down payment. The rest of it requires complex analysis of additional information not contained in your question.
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.net
Re: Property Division
Generally, what you paid from your own separate property will be returned to you (reimbursement right) upon sale of the home. The balance will be split 50/50. This assumes that the house is currently in joint names. If it is only in your name, then it is probably almost all your separate property. If you refinance and place his name on the property then any equity increase after the deed transferring the property to your names jointly would be split 50/50, the balance would be yours. (Those are general statements of the law which there may be exceptions according to the facts of your situation.) Good Luck, Pat McCrary