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Tenants in Common

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D

DolphinVJ

Junior Member
What is the name of your state? California

If I and my spouse purchase a home as Tenants in Common with the title written as one spouse owning 80% and the other spouse 20% and a Divorce occurs afterwards, would the house be split (shared) 50% each because California is a Community Property State or will it be split 80/20 like the Title says?

Thanks in advance.
 


Ohiogal

Ohiogal

Queen Bee
DolphinVJ said:
What is the name of your state? California

If I and my spouse purchase a home as Tenants in Common with the title written as one spouse owning 80% and the other spouse 20% and a Divorce occurs afterwards, would the house be split (shared) 50% each because California is a Community Property State or will it be split 80/20 like the Title says?

Thanks in advance.
Click to expand...
You are entitled to 50% of the other spouse's portion and they are entitled to 50% of your portion of the equity. Hence 50/50 due to community property.
 
D

DolphinVJ

Junior Member
Thanks for your reply.

If on the title the following is added - "the property is separate property and not community property?" This would still be with the 80% and 20% ownership in title. Can you have the separate property reference as above and yet a 80/20 share in ownership (title)?

Thanks.
 
LdiJ

LdiJ

Senior Member
DolphinVJ said:
Thanks for your reply.

If on the title the following is added - "the property is separate property and not community property?" This would still be with the 80% and 20% ownership in title. Can you have the separate property reference as above and yet a 80/20 share in ownership (title)?

Thanks.
Click to expand...
No, because any appreciation or gain in equity on the house during the marriage becomes marital property, because you will be using marital funds to pay for the house payments/property taxes/upkeep etc.

Why are you attempting this kind of ownership split? What is the backround here? There may be a different way to accomplish what you are trying to accomplish.
 
D

DolphinVJ

Junior Member
Reason for the 80/20 split is because my spouse has decided to separate our money/income, etc. so I am considering buying a new home for rental with my money only but I do not want to shut her out completely so I choose to give her 20%.

Is there a way, I can title it so that if there ever was a divorce, I could get my 80%?

I am in California which is a community property State.

Thanks.
 
LdiJ

LdiJ

Senior Member
DolphinVJ said:
Reason for the 80/20 split is because my spouse has decided to separate our money/income, etc. so I am considering buying a new home for rental with my money only but I do not want to shut her out completely so I choose to give her 20%.

Is there a way, I can title it so that if there ever was a divorce, I could get my 80%?

I am in California which is a community property State.

Thanks.
Click to expand...
So, you are buying a rental property? The only way I can think of that you could do it is via a post nuptual agreement.
 
Ohiogal

Ohiogal

Queen Bee
LdiJ said:
So, you are buying a rental property? The only way I can think of that you could do it is via a post nuptual agreement.
Click to expand...
And post nups are NOT normally upheld unless they are separation agreements filed with the court as such.
 
LdiJ

LdiJ

Senior Member
Ohiogal said:
And post nups are NOT normally upheld unless they are separation agreements filed with the court as such.
Click to expand...
True, but some parties do choose to honor them if they were on board with them in the first place.
 
M

mistoffolees

Senior Member
DolphinVJ said:
Reason for the 80/20 split is because my spouse has decided to separate our money/income, etc. so I am considering buying a new home for rental with my money only but I do not want to shut her out completely so I choose to give her 20%.

Is there a way, I can title it so that if there ever was a divorce, I could get my 80%?

I am in California which is a community property State.

Thanks.
Click to expand...
Sounds confusing enough that you need an attorney in your state. There may be ways to do it with a trust, but it doesn't sound easy.
 
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