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My husband is a building contractor and built our home, on completion of the home he financed the home in his name only, and said I had to sign a Quit Claim Deed because my name was not on the mortgage. In a community property state, in case of divorce, would I still get half of this property?

Niicss · Posted: Wed Aug 15, 2007 5:55 pm Post subject:

Hi Arlene,

It seems you have asked the same questions over here also. Some other community members have replied to it. Please go through this following page to know about the replies they have given: http://www.mortgagefit.com/discuss/interspousal-transferdeed-3.html

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larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Arlene,

Community property is such a property which remains undivided until the divorce proceedings are started. After the divorce, you won't be able to claim any share out of the property even if you are in the community property state.

Only if your name is in the mortgage, you can have an access to the property after the divorce. Otherwise you cannot hope to get it.

Guest

what you are missing were you married to your husband when he bought the house he sold to buy the land if not than you are out of luck

evolovik26 · Posted: Mon Aug 27, 2007 9:23 am Post subject:

The way you phrased your question seems that your husband financed the property and had you sighn the quit claim deed because your name was not on the mortgage. Now this may mean that he added you to the title or have removed you from the title. If he added you to the title its good cause he has given you the right to the property without the responcibility. If he removed you from the property technically you sighned a document that absolves you from any ownership rights to the property. However if it should come to divorse ( i hope it wont ) your lawyer might be able to do something about it based on how long you guys have been together and whether or not you were married at the time of the home purchase.

miller_st · Joined: 17 Jan 2007 Posts: 918 168.95 Dollars($)

Guest

I purchased a residence three years prior to marriage to my wife. I later put her on title 8 years later when we refinanced the laon to a fifteen year morgage. The property is now paid off fully. We separated one year prior to paying off the laon that she lived in the residense and paid off the loan using her separate money. The original loan was $870/mo. later after refi to $761/mo. The down payment was $40K and pruchase price of $125K. At time of Mariage the property value was lets say $180K. Eight years later upon refi. value was $275. and upon DOS value was $650 now it is $550K.
Can you calculate my separate property interest?

Purchase Price = $125000
loan (original) = 85000
Down payment of 40000
30yr @12%
Married 3 years later - value $180000
Refi to 15 yr @8.25% - eight years later (put wife on property)
DOS - 14 years later Value $650000 (she oaid last years mtg)
Current value - $550000
Most of the payments for three years before marriage was interest - Pmt of $871
Payments of $761 for fifteen years was to pay off the mtg.
We live in California a Community Property State
Can you approximate my separate property interest of this property?

Thank you,

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Do I have community property rights after signing quitclaim?