Legal Question in Family Law in California
Property Valuation: Seperation vs Mediation/Dissolution
In regards to property valuation for the split of equitable interest, would the property value at time of seperation be used or value @ time of mediation/dissolution be used.
In my specific scenario, my ex & I split in April, I maintained control and residency of our home, I have always been the sole source of household income and have been responsible for making house payments.
Since she willing left the home and does not want ownership, am I relegated to split the equity in the home as of time of seperation or at the time mediation delivers its findings/dissolution is granted?
2 Answers from Attorneys
Reply: Property Valuation: Seperation vs Mediation/Dissolution
Generally speaking, the property is normally valued at time of trial or settlement, and not at time of separation.
For a specific opinion regarding your individual circumstances, 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 California family law issues by visiting my web site.
Good luck to you!
Brian Levy, Esq.
www.calattorney.com
Re: Property Valuation: Seperation vs Mediation/Dissolution
since california is a community property state, the Courts would generally grant your ex an equitable community property interest in the home at issue, absent any rebuttable presumptions proving otherwise, especially since your wages (deemed community property) were used to build the equity in the home. further, typically community property interest is evaluated at the date of separation if the parties have shown a specific intent to permanently separate at that time (not just taking a "break" from one another per se). if you would like further legal assistance or direction on this important matter, simply contact our Law Office today.
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