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mk
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Post subject: calculation |
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| I bought a home in my name alone (w/his signature on quitclaim deed) while we were married. We refinanced last year to do improvements and put his name on deed to get the loan. We are now getting divorced. The home has lost so much value that either we owe more than it is worth or we may have about $100,000 equity in it. Many payments from the time I purchased it (in my name alone) were made from community property, and definitely all the payments made after the refi were made from community property. How is the interest calculation done in a case like this? Does he have a claim to the payments made from community property before his name was on the deed? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10460
Location: Nevada
987.57 Dollars($)
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Post subject: |
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Hi mk,
As the payments were made from the community funds, your spouse may have claims to that property. It will be better if you could contact an attorney well versed with the community property laws and he will guide you better in this matter.
Thanks |
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AndrewH
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Post subject: Moore-Marsden Rule |
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| Will the M-M Rule apply to a home owned separately by the man prior to and during marriage, but mortgaged during marriage to pay off his wife's business debt? The husband was the sole income provider to the community banking account. His spouse made monthly pmt's toward the loan from her private business income (kept separate from the community bank account) but stopped when she filed for divorce. Ex-wife is now claiming the M-M Rule applies. Your comment? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10439
Location: Alaska
985.83 Dollars($)
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Post subject: |
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Hi AndrewH!
Welcome to forums!
If the husband was the sole income provider to the community banking account, and as the home was separately owned by the husband, then Moore Marsden rule may not apply in this case. However, it will be better if you could contact an attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane |
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flyboy in Carlsbad
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Post subject: Fair market value at seperation |
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Hello:
I would like to ask a question regarding fair market value. Should the fair market value of the home be determined for the " date of filing of divorce" or some time later during the " on going court proceedings". Here in Southern CA a year or two can mean significant differences.
Also, is there there a published list of what constitutes home improvement versus home maintenance. For example replacing a rotting fence I consider to be maintenance yet replacing the old patio slider with a nice wood made slider is an improvement.
Thank you
Mr. in Carlsbad |
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smithsussane
Joined: 18 Sep 2008
Posts: 10439
Location: Alaska
985.83 Dollars($)
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Post subject: |
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Hi Guest!
Welcome to forums!
As far as the fair market value is concerned, it's better to contact an attorney and take his opinion in this regard. I don't think there is a published list which states what constitutes home improvement and home maintenance.
Feel free to ask if you've further queries.
Sussane |
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madoff with your money
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Post subject: dissolution date or trial date for calculations |
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| If I were married in 2001 filed for dissolution in 2007. And the trial date is four years later,are the calculations at time of filing the dissolution or the time of the trial.. |
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adonis
Joined: 22 Oct 2005
Posts: 10562
Location: ALASKA
1089.18 Dollars($)
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Post subject: |
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Welcome Guest,
Your query has been replied to in the given page:
http://www.mortgagefit.com/predeal/about52305.html
Please take a look at it. I hope it will help you.
_________________
Procrastination is the enemy of your financial success |
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mcharles
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Post subject: Moore Marsden |
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Hi, My wife file for divorce and want what the house was worth in 2002. She bought it in 97' for 450k with 90k down. We were married that same yr. 97'.after living together 3 yrs. We owe 286k . I was put on title 2002 we so my be a factor in refinancing which we did a few mo0nths after I was put on She wants what the first 560k and then if it sells for more we split that minus the realty fees etc.The refinance was for 337k only 11k
toward pricinple had been pain even though most of the bills at the time were paid by me.Since then I have contributed at least half of the mortgage payments ($1800) total and $560 a month for taxes I split as well. Can you tell me what I'm entitle to .According to her I would get nothing if the house sold for about 600k.
Your immediate feedback will be greatly appreciated, since my court appearance is this pm.
Kind regards,
Michael
[Email address deleted as per forum rules. Thanks.] |
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Post subject: |
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| As you've paid toward the mortgage, I think you'll be entitled to a share of money if the property is sold off. I will suggest you to contact an attorney well versed with the Moore Marsden law and check out your options. |
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babes87ss
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Post subject: Moore/marsden law |
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| how does a interspousal tital transfer effect the moore/marsden law in california |
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adonis
Joined: 22 Oct 2005
Posts: 10562
Location: ALASKA
1089.18 Dollars($)
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Post subject: |
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Welcome babes,
If you sign an inter-spousal transfer deed and transfer the property to your spouse, then the spouse will become the sole owner of the property. You won't be able to claim any ownership in that property though there is Moore Marsden law in California.
_________________
Procrastination is the enemy of your financial success |
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anonymous2
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Post subject: Moore Marsden Calculation with Refinance |
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| Any experience with a refinance? Wife owned the house before the marriage. The home was refinanced 4 months into the marriage and husband was put on title as Joint Tenant. Home was refinance again approximately 3.5 years later and Husband was again put on title as Joint Tenant. Second refinance was an interest only loan. All payments on both loans were made out of community property assets. No discussion or agreement on separate property interest at the time of the refinancings. Does Moore Marsden apply or as any separate property interest been comingled? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10460
Location: Nevada
987.57 Dollars($)
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Post subject: |
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Hi anonymous,
As the mortgage payments have been made through community funds, I don't think anyone of the co-owners will have any separate rights. It will be considered as a community property and both the owners will get equal share from the property when it is sold off.
Thanks |
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Lisa needs HELP
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Post subject: Moore Marsdon |
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| My deceased husband and I bought the property, raising our 4 children there. He passed and years later I remarried. At the time of the new marriage (1996) the loan bal was $275,000. Sep 2000, I put my new husband on the title so that we could qualify for a refinance ( this is where I goofed). Value of the prop at the time of adding him was $575,000 and by 2001 the loan went through. Since this prop was from my ex husband adn for me and my kids, and there were NO principal reductions or marital funds used for remodeling. Is the Moore Marsden Calculation appropriate for me to use? If still reading; new husband was added when value was $575k,since the values dropped to under $500k and mtg bal $422K. We are divorcing. What calculation do I use and do I really have exposure here? |
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