| Author |
Message |
savior70
Joined: 25 Mar 2009
Posts: 1895
Location: Florida
261.84 Dollars($)
|
Post subject: |
|
|
Hi,
The house you live in and the rental property, both were purchased before you got married. This means that your spouse had no contribution towards the purchase of the houses. Did you make the mortgage payments from your joint accounts? If you did, your spouse will have a certain share of the property as she partially contributed towards its payments. The other rental property that you purchased during marriage has your spouse's name on the title, right? If her name is on the title to the property, she co-owns it and therefore, is entitled to get a certain share of it.
I don't think she's not entitled to get a share of the profit you made by selling the business. You made the purchase using funds from a line of credit from homes you purchased before your marriage. Now, if you did not put her name on the business, she cannot claim an interest in it. |
|
|
anonymousCA
Guest
|
|
Post subject: Moore Marsden |
|
|
| One house was purchased before marriage that I rented out. I exchanged that, after marriage, with a home I also rented and then shared with my ex. He is an attorney, and signed an Interspousal Transfer Grant Deed, relinquishing all rights to title, possession, interest including but not limited to, community property interest then and forever more. We did pay mortgages from our joint account, but we had an interest only loan, meaning he did not pay down any capital. |
|
|
savior70
Joined: 25 Mar 2009
Posts: 1895
Location: Florida
261.84 Dollars($)
|
|
Post subject: |
|
|
Hi,
| Quote: | | He is an attorney, and signed an Interspousal Transfer Grant Deed, relinquishing all rights to title, possession, interest including but not limited to, community property interest then and forever more. |
If he signed an interspousal transfer grant deed and relinquished all his interests and rights to the property, he does not have an interest in the property. Moreover, since it's an interest only loan, he never contributed towards the principal. I don't think he can claim any share of the property. He has given up all his rights and he cannot reclaim them, unless you give them back to him. |
|
|
Lauren
Guest
|
|
Post subject: Joint Purchase Before Marriage |
|
|
My fiance and I are purchasing a house 1 month prior to getting married (found it, had to have it, coudn't wait). We're both contributing to closing costs and will be paying the monthly mortgage payments out of a joint account we both deposit into. However, I cannot be on the deed becuase it is a VA loan (no money down) and we're not officially married. What kind of claim would I have to the property if we get divorced?
Secondly, he's military, so our home is currently in California (community property state) but if we move, is the Moore Marsden rule & community property rule applied based on the location of the property? Or on the state in which you get married? i.e. would this rule even apply if we moved and ended up getting divorced in another state? |
|
|
cliveselley
Joined: 23 Jul 2009
Posts: 45
0.00 Dollars($)
|
|
Post subject: |
|
|
Rule is applicable only in case of states where the community property division exists
amount that you will be paying right now will not be considered for Moore Marsden Rule.
you can arrange an agreement as a safeguard. |
|
|
Dmitry
Guest
|
|
Post subject: All 100% cash purchase after marriage with before marriage $ |
|
|
Hi,
I am married, and want to buy a property in California, it is a 100% CASH purchase, and the money will come from my own bank account, they were earned before marriage. So there will be no mortgage, I am also planning to pay the property tax and utility bills from the same pre-marriage account with previously earned funds.
My wife refuses to sign the interspousal transfer deed at time of purchase.
Will i have 100% of the house and it's appreciated value in case if I divorce later ? Assuming no community funds will be ever used to maintain the house. Will my wife have anything after divorse ?
Thank you very much - i need thi info ASAP. |
|
|
aussie
Guest
|
|
Post subject: spouse bought me out of our home |
|
|
| hi im a bit confused how my spouse came to a figure to buy me out of our house. We had a real estate agent give us a valuation i think it was $340000. He ended up paying me $62000. Was this based on how much we had already paid off the mortgage??? We had been paying off the mortgage for 8 years. |
|
|
Lucie
Guest
|
|
Post subject: quit claim & moore/marsden |
|
|
I live in California. My ex to be bought the house in 1987. We married in 1990. When he refinanced in 1997 he coerced me into signing a quit claim. He says I have no right to any interest in the house at all. I think I understand how the MMrule is calculated but this quit claim thing bothers me.
Thanks, Lucie |
|
|
Bubba
Guest
|
|
Post subject: Calculation of Community Interest |
|
|
I was married 4/28/2001. The home is my seperate property. My wife does not earn any income. We seperated 6/21/2009. The mortgage was paid from my income only. Mortgage paydown is $65,000. The value of the home has gone down approximateky $50,000. What would the community interest be?
Thank you |
|
|
anon
Guest
|
|
Post subject: HELOC and Moore-Marsden |
|
|
| Hello, I live in California. Divorcing, and have Moore-Marsden calc for my separate property residence. Community has $40K interest. How to handle the $102K recent HELOC balance? So far lawyer suggests I am solely responsible. THANKS. |
|
|
savior70
Joined: 25 Mar 2009
Posts: 1895
Location: Florida
261.84 Dollars($)
|
|
Post subject: |
|
|
Hi,
Who took out the HELOC loan? I believe the HELOC loan was taken against the community property while you were married. Am I correct? If the answer is yes, I think both you and your spouse are responsible for the home equity loan and it should be taken into account while the community interest is calculated. |
|
|
anon
Guest
|
|
Post subject: re: HELOC and Moore-Marsden |
|
|
| Thanks for the reply savior70. The HELOC was opened by me with 70% of the proceeds spent by the community. The court has confirmed the residence as my separate property, but I feel now I'm stuck with the $102K as it is not anywhere int he accounting. Could it be used to offset the community interest $40K? |
|
|
anony1
Guest
|
|
Post subject: Depreciation during marriage |
|
|
| Can MApp be a negative number if the property depreciated during the marriage? If so, how is that rationalized as being fair when community assets are used to pay off debt on a separate party investment, and the community gets nothing out of it simply because the separate party investment went south? Thanks. |
|
|
jenkin7
Joined: 04 Jun 2007
Posts: 4537
Location: Hawaii
728.43 Dollars($)
|
|
Post subject: |
|
|
To anon,
If the home equity line of credit is in your name, you are responsible for it. You will have to pay it off. Otherwise, your credit will be affected. If your community interest in the property is $40k, you can use the money to repay the debt.
To anony,
| Quote: | | ….how is that rationalized as being fair when community assets are used to pay off debt on a separate party investment. |
If the property depreciates in value, the MApp or appreciation during marriage can be negative in value. But why would the community assets be used to pay off debt on the third party investment? If the debt is not a liability of the community property, its assets should not be used to repay the third party investment debt. |
|
|
anony1
Guest
|
|
Post subject: Negative MApp |
|
|
Thank you for your response, Jenkin7.
To answer your question, my spouse used community money to pay off separate property debt because he did not realize that the money he was using was coming out of an account that would be considered community.
I am troubled that MApp can be negative, though. Take another situation in which separate property is transmuted into community property during the marriage. Does negative MApp mean that if my spouse chose to use community money to pay-off early the mortgage of his transmuted property, and then the property depreciated below its value at the time it was transmuted, the community has effectively lost all the money that was used for the early pay-off? That does not seem right. He reaps all the appreciation that occurred prior to transmutation, uses community money to pay off remaining debt, and has no real losess since the time of transmutation since it's all on-paper until the property is actually sold. Yet, the community DOES have a loss?
What are my options in this case?
Thank you. |
|
|
Previous 1, 2, 3, ... 5, 6, 7, ... 9, 10, 11 Next 
