Legal Question in Family Law in California
real estate
I purchased my house in 1996 and got married in 1997. The house is our primary residence. It has always been in my name and still is. I have re-fi'd several times and currently there is no equity. The cash outs that I took in the past have either been used for home improvements or purchasing community property, which we intend to divide equally. The value of the house has risen significantly since its purchase, and I intend to keep it. I have contributed to 80% of the relationship the entire mirrage. Is my spouse entitled to any more of the value and/or money?
3 Answers from Attorneys
Re: real estate
If there is not any equity in the residential home and the equity is used to purchase items of community then there is nothing that the other spouse is entitled to receive from sale of the home. There is nothing to divide. If your question is regarding division of debts, reimbursement issues or credit then it depends on series of facts and related factors. If you need legal assistance please contact my office at 310-839-7700.
Nina Gohari
Re: real estate
If you placed monies down on your property from separate property, you are entitled to a credit for those funds. However, any monies placed in the property and/or towards the community are community funds. It appears, based on your information, that all but your down payment may be community property. You are also equally responsible for debts incurred during marriage.
Re: real estate
Generally, a spouse may be entitled to an equity pay down made with community funds (your employment income). From what you have said your have spent any equity paydown, and your spouse would not be entitled to any equity in the residence. Good Luck, Pat McCrary
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