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Community property state

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rclara

Junior Member
What is the name of your state?What is the name of your state? I live in Texas, a community property state.
The question is this. I married 23 months ago. Now getting ready to file for divorce, my wife says everything is her's, I have nothing. Not quite true, but.
A few months after the marriage we bought a house. The down payment, a very large one, came from money I had saved, prior to the marriage. After the sale of the house, whatever equity in the house will be split 50/50, but since most of that equity will be from the large downpayment, my money, can I get that money back, and split the rest of the equity equally?
Thanks. :confused:
 


I AM ALWAYS LIABLE

Senior Member
rclara said:
What is the name of your state?What is the name of your state? I live in Texas, a community property state.
The question is this. I married 23 months ago. Now getting ready to file for divorce, my wife says everything is her's, I have nothing. Not quite true, but.
A few months after the marriage we bought a house. The down payment, a very large one, came from money I had saved, prior to the marriage. After the sale of the house, whatever equity in the house will be split 50/50, but since most of that equity will be from the large downpayment, my money, can I get that money back, and split the rest of the equity equally?
Thanks. :confused:

My response:

There are two schools of thought on this issue.

1. Since the money can be traced back to separate funds, then yes, you'll get your down payment money back; or,

2. Since the money was used for purposes of the marriage, the money was a gift to the marital estate. Thus, all the money is split 50/50.

California, for example, a Community Property State, used to follow scenario number 2. However, a few years back, case law changed that theory of law to number 1.

Obviously, this isn't the answer you wanted, but read my disclaimer and follow it.

IAAL
 

rclara

Junior Member
divorce

Thanks for the reply. Not exactly the answer I wanted, but hopefully Texas will go with option 1. Wonder if it makes any difference that she works and makes very good money, while I am disabled living on SSD. I wouldn't have the chance to add to my savings, while she will. LOL. :(
 

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