Legal Question in Family Law in California
Separate Property - Home Equity
The house title is in husbands name and titled as (a single male), separate property? Owned house (2) years prior to marriage. Married for (4) years, husband has made ALL mortgage payments from personal bank account throughtout the marriage. No kids, wife works, wife wants half of the homes equity.
Question: Is wife entitled to half of the homes equity from date of marriage to date of separation or is the homes equity seperate property as well? I would like to keep the house, can't afford to pay her half.
4 Answers from Attorneys
Reply: Separate Property - Home Equity
This is a complex area of law. If your spouse is not on title to the real property, then she is not enittled to half the equity. There may be a community property interest based upon a "Moore\Marsden" calculation.
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 at my web site.
Good luck to you!
Brian Levy, Esq.
www.calattorney.com
Re: Separate Property - Home Equity
The area of law in which you are involved is complex and really needs proper expertise. The very fact that one party's name is not on title does not in and of itself mean that the property is not community property. However, from the information you have provided, it appears that the property is your separate property in which the community may have some interest. The community interest is calculated using a formula pursuant to case law commonly referred to in the legal community as the Moore/Marsden formula. I strongly suggest that in order to protect yourself and ensure that your spouse does not receive more than she is entitled to, you should immediately retain the services of a Family Law attorney. The costs of legal representation can be more than compensated by minimizing your spouse's interest in your house. If we can be of assistance, please feel free to call. Regards, Damian Nolan.
Re: Separate Property - Home Equity
I wouldn't lose any sleep over this. If wife has an interest that interest is probably nominal. A good attorney is almost certainly necessary. Good Luck, Pat McCrary
Re: Separate Property - Home Equity
If wife has some financial involvement/work in the house, can share. Question not whether payments made from husband's separate account but where money came from that went into husband's separate account. If from earnings during marriage then it is partly hers. Earnings and/or property purchased during marriage presumed to be community.
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