Legal Question in Family Law in California
property settlement
He was gifted 50% business from (living) Dad during our 7 yr marriage. Do I have any equity as spouse? Business has grown tremendously.
2 Answers from Attorneys
Re: property settlement
It is possible that there is a community property interest in the business. This area of the law is very complex. Therefore you should consult with an attorney regarding the facts of your case. The general rule is that if the increase is the result of the work and talent of the spouse then a community property interest is generated. However, if the increase is the result of market influences, such as a home that increases in value without any work by the spouse, there is no community property.
Re: property settlement
It is possible that there is a community property interest in the business. This area of the law is very complex. Therefore you should consult with an attorney regarding the facts of your case. The general rule is that if the increase is the result of the work and talent of the spouse then a community property interest is generated. However, if the increase is the result of market influences, such as a home that increases in value without any work by the spouse, there is no community property.
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