seeking money...

[momof1cutie]

What is the name of your state? CA

i have some questions regarding a divorce and what the ex-wife is sekking from it. the ex-husband bought a house before they married, sold it, and now the ex-wife wants half of the proceeds. the house was never in her name. also, the ex-wife is seeking a vehicle that never belonged to her. bought way before they met. she's fighting w/ a lawyer, so what are the chances of her getting any of what she's seeking??

thanks.

 

[Zephyr]

was the house and it's proceeds and the vehicle kept as seperate property by california guideline?

Do You Know How Community Property Laws Affect Your Taxes?

California is a community property state. This means that all property married couples acquire while domiciled in California is community property. Each spouse owns an equal share of all community property.

Separate property is all property owned separately by the husband or wife before marriage. It includes all property acquired separately after marriage, such as gifts or inheritances. Separate property also includes money earned while domiciled in a separate property state. All property declared separate property in a valid pre- or post-nuptial agreement is also separate property.

Community property ends when either one of the spouses dies. It also ends when the decree of dissolution becomes final or when the couple separates with no intention of rejoining. For more information on community property, see IRS Publication 555, Community Property.


and who are you in this?

 

[seniorjudge]

What is the name of your state? CA

i have some questions regarding a divorce and what the ex-wife is sekking from it. the ex-husband bought a house before they married, sold it, and now the ex-wife wants half of the proceeds. the house was never in her name. also, the ex-wife is seeking a vehicle that never belonged to her. bought way before they met. she's fighting w/ a lawyer, so what are the chances of her getting any of what she's seeking??

thanks.

https://forum.freeadvice.com/search.php?searchid=875924

Wasn't this discussed in one of your numerous other threads you started?

 

[momof1cutie]

what i know is that he bought the house before they married and when he sold it, the house was only in his name...never added her name to it. i just know that she's fighting for 1/2 the sale of the house & a truck that she feels is owed to her.

 

[momof1cutie]

I have never discussed this issue in any of my threads since i just found out this new inf. yesterday. my involvement in all this is this has to do w/ my son's father.

 

[seniorjudge]

What is the name of your state? CA

i have some questions regarding a divorce and what the ex-wife is sekking from it. the ex-husband bought a house before they married, sold it, and now the ex-wife wants half of the proceeds. the house was never in her name. also, the ex-wife is seeking a vehicle that never belonged to her. bought way before they met. she's fighting w/ a lawyer, so what are the chances of her getting any of what she's seeking??

thanks.

Q: so what are the chances of her getting any of what she's seeking??

A: 50-50

 

[nextwife]

I would think that even if there is a determination that she may be entitled to a portion because marital funds were used to make payments, the most she should be entitled to is half the amount the house appreciated during the marriage. So, if he had $200,000 in equity when he married her,and he sold it for $250,000, she should be entitled to no more than half the $50,000. appreciation minus half the seller closing costs.

 

[BelizeBreeze]

What is the name of your state? CA

so what are the chances of her getting any of what she's seeking??

thanks.

until the entire list of facts regarding the home and it's conversion or not to a marital asset are discovered, NO ONE can tell you.

 

[momof1cutie]

I understand that I may not get an exact answer to the questions that I'm asking, but I just wanted to get an idea.

About the sale of the house...I know that he purchased it for $130,000, sold it for $250,000 and took a loan on it for like $60,000. With all of that I'm not sure how much he profited off of the sale of the house.

 

[BelizeBreeze]

I understand that I may not get an exact answer to the questions that I'm asking, but I just wanted to get an idea.

About the sale of the house...I know that he purchased it for $130,000, sold it for $250,000 and took a loan on it for like $60,000. With all of that I'm not sure how much he profited off of the sale of the house.

And when was the refinance?

 

[rmet4nzkx]

When you refi in CA there is a waiver that the spouse may or not sign, did the wife sign that, if not, her interest in the house may be established as community property and given the facts she would be entitled to approx $60K of the proceeds if most of the value of the home increased after the marriage and depending on whether or not her name is on the second mortgage she might be responsible for 1/2 that. If the value of the house droped and wife put a lot of work and improvement into the house she might be entitled to more.

 

[nextwife]

And what was his equity (and the value) when he MARRIED her? Did the refi preceed the marriage?

 

[momof1cutie]

i've never talked to my ex about any of this, this is all stuff i've heard from his family & some paperwork my mom pulled up. that's how i found out the house was never in her name, tha final document only had his name on it. i'm pretty sure the refi was done after they married and i'm not sure if she signed anything to that. i know that she didn't work the whole time they were married and they separated only aftter about 1yr. of marriage.