Moore Marsden

[bummer]

What is the name of your state (only U.S. law)? California - I bought a house in 1997 and got married in November 2001. We are now divorcing. I never put her on title in the house so she has a Moore Marsden interest. If her Moore Marsden interest is negative does she owe me or is Moore Marsden only if the equity is positive?
The other question is we took out a HELOC during the marriage for about 130K. Does this get calculated into the Moore Marsden? There is a deed of trust with her name on it but she is not on title. I did the calculation and she has about a 5% interest, but I couldn't figure out where to put the HELOC in the calculation.

 

[LdiJ]

What is the name of your state (only U.S. law)? California - I bought a house in 1997 and got married in November 2001. We are now divorcing. I never put her on title in the house so she has a Moore Marsden interest. If her Moore Marsden interest is negative does she owe me or is Moore Marsden only if the equity is positive?
The other question is we took out a HELOC during the marriage for about 130K. Does this get calculated into the Moore Marsden? There is a deed of trust with her name on it but she is not on title. I did the calculation and she has about a 5% interest, but I couldn't figure out where to put the HELOC in the calculation.

She wouldn't owe you anything if the Moore Marsden interest is negative...however I am a little concerned about the HELOC and the deed of trust. If she is a cosigner to the HELOC you are definitely going to have to refinance that to take her off, and the "deed of trust" may complicate things.

I recommend that you consult a local attorney. This one may not be a DIY project.

 

[Ohiogal]

I agree with Ld.