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Community Property

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gpmoem

Junior Member
What is the name of your state?
California

My husband and are going through a divorce. He purchased our home 2yrs prior to our marriage. We lived together for one year prior to our marriage at which time I paid for half of the mortgage. Shortly after we were married, we took out a 2nd on our home to pay for his debt which was incurred during his previous marriage. At that time, my name went on the title and I have continued to pay half of the mortgage. We have been married for 6 years.
He originally put down $20,000 when he purchased our home.

My question is am I entitled to half of the appraised value? How does this work?
 


LdiJ

Senior Member
gpmoem said:
What is the name of your state?
California

My husband and are going through a divorce. He purchased our home 2yrs prior to our marriage. We lived together for one year prior to our marriage at which time I paid for half of the mortgage. Shortly after we were married, we took out a 2nd on our home to pay for his debt which was incurred during his previous marriage. At that time, my name went on the title and I have continued to pay half of the mortgage. We have been married for 6 years.
He originally put down $20,000 when he purchased our home.

My question is am I entitled to half of the appraised value? How does this work?
Based on that scenario I think you have a good claim for 1/2 of the EQUITY (not appraised value). Equity is appraised value minus the remaining balance of the mortgage and 2nd loan. Yes, he put a large down payment on the home, but that is offset by his prior debt that was rolled into the 2nd loan.
 

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