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  #1  
Old 11-04-2009, 01:11 AM
RVF RVF is offline
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When does separate property become community after adding spouse to deed?


What is the name of your state (only U.S. law)? California

My Question:
I owned my house 3 years prior to being married. In my 6th year of marriage I added my spouse to the deed while refinancing my home (Feb 2009). 2 months later she had an affair, Date of separation is (June 2009).
1. Is it true that the day she was added to the deed is the day the asset became community property?

2. Is it true that she is entitled to only 50% the equity gained after the property became community property.

3. Is it true that she is entitled to 50% of the principle pay down on the loan during the time we were married?What is the name of your state (only U.S. law)?
  #2  
Old 11-04-2009, 07:54 AM
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Join Date: Dec 2005
Location: Ohio
Posts: 31,761
Quote:
Originally Posted by RVF View Post
What is the name of your state (only U.S. law)? California

My Question:
I owned my house 3 years prior to being married. In my 6th year of marriage I added my spouse to the deed while refinancing my home (Feb 2009). 2 months later she had an affair, Date of separation is (June 2009).
1. Is it true that the day she was added to the deed is the day the asset became community property?

2. Is it true that she is entitled to only 50% the equity gained after the property became community property.

3. Is it true that she is entitled to 50% of the principle pay down on the loan during the time we were married?What is the name of your state (only U.S. law)?
The day you got married and were paying on the mortgage still was the day a portion of the property became community property. When you added her to the deed, the became joint owner. She is entitled to 50% of the equity overall because you gifted her with half the house. What do you mean by 50% of the principle pay down? She got to live in the house.The home is BOTH of your property. Hence she is entitled to 50% of the equity.
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Parents should remember three things: Love your kids more than you hate your ex (or soon to be ex) & when you have children the relationship with the other parent is until death parts you & how you treat your children determines what type of nursing home you end up in.


Nothing stated by me should be taken as giving you legal advice or forming an attorney/client relationship. The devil is in the details after all.

Licensed to practice law in Ohio and a Guardian Ad Litem for children
  #3  
Old 11-04-2009, 11:30 AM
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Join Date: Jan 2003
Posts: 19,148
Quote:
Originally Posted by Ohiogal View Post
The day you got married and were paying on the mortgage still was the day a portion of the property became community property. When you added her to the deed, the became joint owner. She is entitled to 50% of the equity overall because you gifted her with half the house. What do you mean by 50% of the principle pay down? She got to live in the house.The home is BOTH of your property. Hence she is entitled to 50% of the equity.
I agree that the day one is vested in title they become an owner, but non comingled premarital property only becomes partially marital if the mortgage that was being paid was paid out of marital funds. If payments were made from a pool of premarital assets, or, say, I own a free and clear investment property premaritally and use those rents to pay my mortgage post maritally, the house for which I am a sole owner would NOT automatically become marital "the day you got married and were paying on the mortgage."
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  #4  
Old 11-04-2009, 11:54 AM
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Join Date: Dec 2005
Location: Ohio
Posts: 31,761
Quote:
Originally Posted by nextwife View Post
I agree that the day one is vested in title they become an owner, but non comingled premarital property only becomes partially marital if the mortgage that was being paid was paid out of marital funds. If payments were made from a pool of premarital assets, or, say, I own a free and clear investment property premaritally and use those rents to pay my mortgage post maritally, the house for which I am a sole owner would NOT automatically become marital "the day you got married and were paying on the mortgage."
Yes I agree. I should have added with "marital funds".
__________________
Parents should remember three things: Love your kids more than you hate your ex (or soon to be ex) & when you have children the relationship with the other parent is until death parts you & how you treat your children determines what type of nursing home you end up in.


Nothing stated by me should be taken as giving you legal advice or forming an attorney/client relationship. The devil is in the details after all.

Licensed to practice law in Ohio and a Guardian Ad Litem for children
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