Posted: Fri Apr 11, 2008 5:23 pm Post subject: Moore Marsden Application
My husdband and I both owned homes prior to our marriage. My home was sold during our marriage. Now as we divorce he wants to claim Moore Marsden and therefore short me out of an equitable interest in the home we shared (I am on title). This seems wrong to me...are there specific instances when Moore Marsden can be inapplicable?
Posted: Fri Apr 11, 2008 9:42 pm Post subject: RE:
Hi debraholloway,
Welcome to forums.
Did you buy the home you shared after marriage? and did your spouse contribute towards the mortgage payments? these are important factors in deciding whether a Moore Marsden Rule is applicable in your case.
You have your own home before your marriage right. so after your marriage did your husband shared the mortgage payment of that property? If so then he may claim Moore Marsden interest.
But if he has not paid anything on the mortgage payments after your marriage then he cannot claim any thing as you have bought the property before your marriage.
Posted: Sat Apr 12, 2008 3:53 am Post subject: RE: is it fair to claim moore marsden interest?
Hi Debrah,
I think he's quite justified in claiming the Moore Marsden interest as I suppose yours is a community property state. But off-course you can deny it if your spouse hasn't made the mortgage payments. By why do you think it's wrong? please feel free to share your thoughts on this, so that i can explain things in a better way.
if there was no prenuptial agreement before marraige then you can apply the Moore/Marsden rule which is: "When community property is used to reduce the principal balance of a mortgage on one spouse's separate property, the community acquires a pro tanto interest in the property." In plain English, the Moore/Marsden rules pertain to separate property acquisitions for which community property assets are used to pay off a separate property obligation on one party's separate property asset. In order for this rule to apply, the separate property asset must have been purchased on time or credit prior to marriage. At the time of marriage, one of the spouses must have previously acquired an asset for which they were making payments in monthly installments with community property funds.
Based on that rule, you will need to know how much was paid towards the home loan and calculate the interest. You will need the orginial purchase price, the principle paid during marriage, Fair market value then and the current fair market value, to figure out the total community interest. Each case is resolved differently that is why the other lenders would like to know your unique situation.
Thanks and good luck
Jeanette Smith
Mortgage Planner
Union Mortgage Group
"Jsmith@union-mtg.com"
[Email address deactivated as per forum rules. Thanks] _________________ Life is like a bull grabit by the horn
Posted: Wed Aug 13, 2008 4:35 am Post subject: Moor Marsden
It will apply, as the wages are community income and regardless of whose income is used to pay the mortgage debt.. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Posted: Wed Sep 24, 2008 12:14 am Post subject: Re: Help!
Hi,
My ex-spouse and i after mariage purchased a townhouse in Feb 1997. We separated in March 1997 . When he left he never made any payments and i have soley paid for it. In 2003 he quit claim his half interest without any undue influences . He simply didn't eant the obligation and liability . I am on title Now he placed a lien on the place and taking me to court . Now he claim quit claim was under duress because he was going to a Iraq war . Is he entitle to at least a Moore Marsden component ?
I understand your issue. But Moore Marseden Component applies to those people living in the community property state. Do you live in a community property state?
debraholloway
