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Marital vs. Non-Marital Property

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M

munkee

Guest
california resident - before i was married, my current wife and i bought a home. the home is solely in my name. if she leaves and we divorce, is she entitled to current equity in the home? we paid $180K and just had it appraised at $240. Also, I bought a car in my name only before we married. does she have rights to that too?

she has helped monetarily with the house and the car, but does not have her name on either. Both were purchased prior to our marriage, but while we were living together.
 


vrzirn

Senior Member
Did you pay the down payment and closing costs yourself? If so, that would be yours but appreciated value is community property.You could claim car payments she made were gift to you but that would be really low-life. Give the lady her share. If lady were smarter she would have insistedher name go on the title.
It makes me really sad that women are not more sophisticated about financial affairs. and their fiscal health.
 
M

munkee

Guest
Down payment and closing costs came out of our joint checking account. Most of the funds were mine (from previous savings) but she had also contributed.

Her name was never on the title or mortage because she was previously divorced and had a foreclosure on her credit less than 2 years before we bought the house. My credit is perfect, so it didn't make any sense to put her name on the home (we never would have qualified for the loan / interest rate we ended up getting.

I would never be so low as to say the car payments were a "gift." I love my wife very much, be she is the one who wants to leave......

I just want to keep the house and not be forced to sell it....
 

vrzirn

Senior Member
Have the house appraisedGive her half the equity in the house. Talk to attorney to make sure this does not generate a tax event for her. Divide furniture equitably.
Unless car is Porsche or such, give it to her. Otherwise, just let her buy out half-if she wants to keep it. Who knows, be really nice and she may change her mind. Stay sane.
Her name could have gone on the title even though it was not on the mortgage. You could have quit-claimed it to her and recorded on the deed. Good luck.
 

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