Legal Question in Real Estate Law in California
Is she entitled to half the home equity?
my daughter ended a long term relationship and signed over the deed to the property to her ex-fiance when he refinanced the home in November. He put up the down payment on the house, but she paid half the mortgage each month for 4 years. Without her as a co-buyer he would not have qualified to purchase the home. Is she entitled to half the equity after his down payment deduction?
4 Answers from Attorneys
Questions?
does she have any document that shows she has a right to the property? and how did she contribute to the payment of the property, by work and by writing the mortgage payment checks? Confirm these inquiries and you may contact me for a phone consultation. 310-266-4115 or www.christopherbrainard.com
Re: Is she entitled to half the home equity?
The answer is no; after "signing over" whatever interest she may have once had is gone, with the possible exception that the deed might be un-done if obtained by fraud, duress or mistake of fact (not of judgment).
Even before signing over the property, whether she had an interest is somewhere between questionable and doubtful. Making mortgage payments can impart an equity interest in a spouse's separate property, but that doesn't happen with unmarried couples' properties, and ownership follows the down payment UNLESS there is evidence of intent to make a gift or a written contract calling for some kind of co-ownership.
A court would say the guy owned the house and the 1/2 mortgage payment was rent.
Re: Is she entitled to half the home equity?
Simple answer, likely yes.
Re: Is she entitled to half the home equity?
First of all you mention nothing about an agreement between them, whether oral or written. My answer to your question is absolutely, subjective course to what he is going to say what is the probable "oral" agreement between them. If she were to have to go to court I would further argue that without her he could not have purchased the property and therefore even a part of his downpayment would endure to her benefit as she was absolutely necessary to wire the property in the first place.i have been practicing law in this speciality for over 30 years in the san francisco bay area and if you wish to consult with me you can contact me at 925-945-6000