Is Wife entitled to anything on 2nd house?

[kufuya]

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

My husband and I brought a house after we got married. Both of our names are on the grand deed, but only my name on mortgage/lender document. All mortgage payment is payment from our joined account

My husband brought another house early this year. My name was not on the grand deed. And I was asked to sign a document called “interspousal Transfer Grant Deed” when he signed the loan document. Per loan agent, he said it was required by the law for me to sign the “interspousal Transfer Grant Deed” for my husband to get the loan. Is there a such law in CA? Can my husband request the lender or the escrow title company to have me signs the “interspousal Transfer Grant Deed” document on behalf of my husband?
The mortgage payment is paying from my husband’s personal bank account.

Will I entitle to any shares of the second house if we are going to divorce?

Will I entitle to any shares of the second house if the mortgage payment is paying from our joined account when we divorce?

Thanks a lot for your help in advance
Sami

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

[nextwife]

How did he, is he, funding the purchase of the second house?

[mistoffolees]

Originally Posted by kufuya

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

My husband and I brought a house after we got married. Both of our names are on the grand deed, but only my name on mortgage/lender document. All mortgage payment is payment from our joined account

My husband brought another house early this year. My name was not on the grand deed. And I was asked to sign a document called “interspousal Transfer Grant Deed” when he signed the loan document. Per loan agent, he said it was required by the law for me to sign the “interspousal Transfer Grant Deed” for my husband to get the loan. Is there a such law in CA? Can my husband request the lender or the escrow title company to have me signs the “interspousal Transfer Grant Deed” document on behalf of my husband?[/quote]

There is no law which requires you to sign such a document. A judge can order it in a divorce, but otherwise, no.

Originally Posted by kufuya

The mortgage payment is paying from my husband’s personal bank account.

Will I entitle to any shares of the second house if we are going to divorce?

IF the house were purchased with separate moneys (such as an inheritance) and IF marital funds were never used in its upkeep, then it would be separate property and you would not be entitled to any of it. However, if any marital funds are used (including income earned while married), it becomes marital property.

Originally Posted by kufuya

Will I entitle to any shares of the second house if the mortgage payment is paying from our joined account when we divorce?

If the mortgage is paid from the joint account, you will certainly be entitled to some share. In today's real estate climate that might not be much - particularly if the down payment were from separate assets and the divorce occurs not too long after the house is purchased.

[kufuya]

Thanks all for the quick responses.

"How did he, is he, funding the purchase of the second house?"/Quote

My husband told me that he borrowed some money from somebody as down payment. And those people lended him money as gift by signing gife certificate letter. I saw my husband had some gift certifiation receipt/paper that were signed from some people that I don't know. All of these money were deposited into our joint account and then paid to the lender as down payment.

Thanks a lot
Sami

[mistoffolees]

Originally Posted by kufuya

Thanks all for the quick responses.

"How did he, is he, funding the purchase of the second house?"/Quote

My husband told me that he borrowed some money from somebody as down payment. And those people lended him money as gift by signing gife certificate letter. I saw my husband had some gift certifiation receipt/paper that were signed from some people that I don't know. All of these money were deposited into our joint account and then paid to the lender as down payment.

Thanks a lot
Sami

In all likelihood, you are entitled to 1/2 of the increase in equity in the home. You MAY be able to argue that the gift became marital property when he put it into a joint account and are therefore responsible for 1/2 of the total equity. However, if you bought the house early this year, there won't be any gain in equity.

There's one other issue that you might want to be aware of. It isn't clear, but your description sounds like he committed fraud in order to get the loan. The money was either a gift or a loan. If it was a gift, it doesn't need to be repaid and the mortgage company counts it as your/his contribution toward the downpayment. If they expect to be repaid, it was a loan and he has to report it as such (and he would probably not have gotten the mortgage). I'm not sure that helps you in any way, but it might actually be in your interest to steer clear of the whole thing- perhaps using it as leverage when you negotiate the property split.

[kufuya]

Thanks a lot, mistoffolees.