Legal Question in Family Law in Washington
Community Property
I owned property prior to getting married. My husband and I want to building on vacation property. I know that if I sell my home and use the proceeds, they will become community property, therefore can I borrow against the equity and still own my home 100%?
Asked on 10/28/05, 4:28 pm
1 Answer from Attorneys
Christopher Steuart
IT Forensics, Inc.
Re: Community Property
It is unclear from your statement whether you own the unimproved "vacation property" as separate property. If you do, and you sell your separate property home, and put the proceeds into the "vacation property" it would all still be separate property. Selling your separate property does not make the proceeds community property, unless you commingle the proceeds so as to make them indistinguishable from community assets.
Answered on 10/28/05, 6:34 pm
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