<barry@psyber.com> wrote in message
news:G_B4e.2581$Kr2.1781@fe07.usenetserver.com... Mark <esa1178@hotmail.com> wrote: : I am into the 6th year of marriage. The house was purchased 5 years
prior... : Only names on the mortgage are my Wife's & her Mother. : I guess I could argue that either they sell the house, pay off the
residual : mortgage and then : present me with 25% of the remaining amount. Or take out an equity loan
for : "my share" around $190.000 : Since my wife has additional properties in her name, prior to the
marriage, : I could ask for a flat rate of $250.000 : and be done with it. I am aware that her Mother is legally co-owner,
with a : 50% ownership, which with some legal pushing : and shoving could allow me to assume 50% of my Wife's share. The house
value : is about $900.000 with a residual : 1st mortgage of $150.000. Leaving the available equity at $750.000 : There is a child involved, so I have a little bit of leverage.. The child's situation is an independent issue. What needs to be done WRT the house is to establish it's value on the date of your marriage, 6 years ago which will not be simple. Then establish today's value. Compute the gain and determine the
percentage ownership. Having a 3rd party involved really complicates the issue as well as not having your name on the title as I previously mentioned. Technically, your gain would be half your wife's gain from the marriage date to date of separation if you can eliminate the title/intent of
ownership uncertainty. Again, unless you get an easy agreement, you'll need an attorney to propose the division of property. b. : <barry@psyber.com> wrote in message : news:gvz4e.2217$Kr2.512@fe07.usenetserver.com... :> Mark <esa1178@hotmail.com> wrote: :> : Community property in california is when a married partner purchases :> : property after the marriage. :> : Question: :> :> : If my Wife had purchased a house and the mortgage is in her's and her :> : mothers name. :> : Does this mean, upon a divorce, that I would receive 50% of 50%? :> : That is, if the house is valued at 900.000 and there is 150.000 left
on : the :> : mortgage, :> : would I be legally entitled to 375.000 ? :> :> : anyone? :> :> You do not mention when the wife/mother purchased the home. If it was : purchased :> before the marriage, you may (note I say "may") be entitled to half the :> gain or loss upon divorce *beginning* on the date of the marriage.
That : is, :> only the gain incurred from the marriage date forward. However, the
fact :> that your name isn't on the house may be used to represent that there
was : no :> intent for you to participate in the gain/loss of the house's equity. :> :> If the house were purchased *after* the marriage, you'd likely be :> entitled to half the gain or loss. :> :> The fact that your name is not on the title clouds the issue from a
legal :> perspective. It may be effectively argued that there was no intent for : you :> to be involved in the house's finances. You need an attorney to
clarify :> the issues to the court (I am not an attorney but I owned a home in my :> name only prior to a marriage and later divorced... we used the single : name :> on the title to argue that the house was separate property). :> :> b.

I don't agree with B on this one.

Wife purchased property BEFORE marriage. She has kept the title to said
property in her and her mothers name. 6 year marriage is considered short
term in CA.

I think you're screwed. Did she pay the mortgage payment out of a joint
account? That may give you rights (Co-mingle) to some of the equity she has
aquired since you married her. MAYBE. If she hires a good attorney you are
in deep &^%*.

Good luck.

Big RJ