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Subject:
California Quit Claim
Category: Miscellaneous Asked by: dee143-ga List Price: $20.00 |
Posted:
27 Mar 2006 16:40 PST
Expires: 26 Apr 2006 17:40 PDT Question ID: 712590 |
My mom sold some property to me and my husband (she insisted that he be included) in 6/04 for an amount of $100K. A straight note for $50K was recorded and I used $50K from our equity line of credit on our primary residence for the balance. He didn't want to help pay for the property so the monthly interest payments for the equity line were automatically deducted directly from my personal checking account. He didn't pay for repairs, tennant screening and refused to pay taxes so, he signed a quit claim in 11/04 to remove his name from title. In 1/05 I secured a loan against the income property for $100K. I paid back the $50K from the equity line and paid off the remaining balance to my mom. I am now going through a divorce and my husband says the income property is community property. Is this true? |
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There is no answer at this time. |
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Subject:
Re: California Quit Claim
From: hyphenga-ga on 28 Mar 2006 10:43 PST |
I hope a researcher will find the official/legal answer you're looking for, but I'm also going through a divorce in California now and I've learned (the hard way) that ANYTHING purchased by either spouse during the marriage is automatically considered community property. Unless you received the property as a gift or inheritance, it doesn't really matter who's name it's in, who earned the money to pay for it, or who has been maintaining it. Unfortunately, the fact that your hubby turned his back on the property prior to your breakup doesn't diminish his claim to half of its equity (appraised value minus mortgage) calculated on the official date of separation. Divorce is painful enough. Divorce in California is excruciating. Just my opinion - I'm not a lawyer or researcher. Good luck. |
Subject:
Re: California Quit Claim
From: myoarin-ga on 28 Mar 2006 17:29 PST |
This subject has been discussed here before. I am afraid that Hyphenga's comment is correct. http://answers.google.com/answers/threadview?id=571998 Here are a couple of sites that also are pertinent: http://publish.pdesigner.com/gitlinpetlak/Communityproperty.jsp http://www.ucop.edu/facil/olp/consumer/holdingrealestateincal.html |
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