How do you separate real property, residence? 2 Answers as of September 11, 2010I have been married for 10 years. I purchase an older home and my wife put $210K towards a loan that I am the primary party. I have paid down payment in full and all cost to secure house, plus being primary wage earner. I have made all the monthly mortgage payments of $1239, plus all property taxes. I have spent 71/2 months full time, remodeling inside and out, my cost with time, materials and all related expense to complete is $136K to completion of home with all site improvements. Have spent money towards materials, sub contractors, and labor. I have physically done 85% of work to completion. Value have house is now in range of $560K - $585K. My wife put money in for kitchen remodel, flooring, windows and contracted labor for early part of project. She borrowed from her father in access to $85K. How do we make settlement, take my name from loan documents?
Hale Law Group | Joshua D. Hale
What usually happens is the house gets sold and each party takes half of the proceeds. If you need help with this divorce, please call my office. I handle these complex situations throughout California, and have generally very favorable results for my clients.
Answer Applies to: California