Divorce, split house equity but still live together

[thumper2]

What is the name of your state (only U.S. law)? California . So we've been married 4 years, have 1 child. I want to buy her out of the house and put 100% of it in my name but let her (and her 12 year old son and her adopted niece) live with me because of our 4 year old daughter and her current financial status. She works but needs to get on her feet. Can this be an issue down the line if we have bigger issues and I want her out but she wants changes in the divorce agreement?

 

[LdiJ]

What is the name of your state (only U.S. law)? California . So we've been married 4 years, have 1 child. I want to buy her out of the house and put 100% of it in my name but let her (and her 12 year old son and her adopted niece) live with me because of our 4 year old daughter and her current financial status. She works but needs to get on her feet. Can this be an issue down the line if we have bigger issues and I want her out but she wants changes in the divorce agreement?

Unless you are buying her out as part of your actual, official property settlement in your divorce, it will be a problem.

 

[thumper2]

Yeah so far she is in agreement but my concern does any kind of common law rules apply is she stays in the house some more years, especially with kids

 

[Zigner]

Yeah so far she is in agreement but my concern does any kind of common law rules apply is she stays in the house some more years, especially with kids

The kids don't matter. The fact is that, without a properly executed post-nuptial agreement, your wife will gain equity in the house even after you pay her off for her current equity.

Can you explain why you want to do this transaction? You DO understand that the money you're using to "pay her off" may, in fact already be half hers...right?

 

[thumper2]

We're still amicable and have our 4 year old but don't see us lasting more that 5-7 years until she really leaves. I don't want to have to give her more house equity at that time.

 

[LdiJ]

We're still amicable and have our 4 year old but don't see us lasting more that 5-7 years until she really leaves. I don't want to have to give her more house equity at that time.

Then get divorced now. As long as you are married and living in the same household she will continue to gain community/marital equity.

 

[thumper2]

Then get divorced now. As long as you are married and living in the same household she will continue to gain community/marital equity.

But is a legal separation is the same right? For ins purposes.

 

[Zigner]

Frankly, it sounds to me like you're trying to pull a financial fast one on somebody.

How to you intend to get around the fact that the money you'd be "paying" your wife is already half hers?

 

[thumper2]

Frankly, it sounds to me like you're trying to pull a financial fast one on somebody.

How to you intend to get around the fact that the money you'd be "paying" your wife is already half hers?

Like I stated trying to get her out of owning equity in the house since I've been paying 100% of the mortgage

 

[Zigner]

Like I stated trying to get her out of owning equity in the house since I've been paying 100% of the mortgage

If you are making those payments from your income from employment, then you're paying 50% and she's paying 50%. California is a community property state.

 

[eerelations]

Like I stated trying to get her out of owning equity in the house since I've been paying 100% of the mortgage

As you've been advised, the only way you can do this is to get divorced now.

 

[LdiJ]

But is a legal separation is the same right? For ins purposes.

Nope, its not, not if you are living in the same household. If you want it to hold, you need to get divorced NOW.

 

[thumper2]

Nope, its not, not if you are living in the same household. If you want it to hold, you need to get divorced NOW.

OK, thank you