QUESTION
Is a separate property down payment reimbursable if there were another home purchased in between?
Asked on Sep 04th, 2013 on Divorce - California
More details to this question:
I used traceable separate property for down payment on my second home with my stbx prior to marriage. We got married while in that house and eventually sold it. We used those proceeds to buy the current home we are in now. Am I entitled to my down payment back out of equity from sale now that there was a house in between? This in in California.
3 ANSWERS
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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If you can clearly trace the money into house 1 and house 1 made a profit that was clearly put into house 2 you should be able to get it back. No appreciation though. If there was a refinance it could be different. Best to consult with an attorney.
Answered on Sep 05th, 2013 at 3:44 PM
Yes if you can still trace it.
Answered on Sep 05th, 2013 at 3:26 PM
Family Law Attorney serving Thousand Oaks, CA
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Law Office of Terry A. Buchanan
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In California you are entitled to reimbursement if your separate property down payment so long as clearly traceable. That "traceability" goes to any subsequent property acquired. This issue is challenging and usually a highly contested issue. Consultation with an attorney to cover all aspects of the issue you presented is recommended.
Answered on Sep 05th, 2013 at 11:24 AM