QUESTION
Since this is a community property state, should the proceeds be divided evenly in a divorce?
Asked on Mar 24th, 2016 on Divorce - California
More details to this question:
When our real property was purchased, my partner purchased the property for $130,000. We were married 6 years later and have been together for 27 years. We are selling the property and he feels he should receive his initial investment of $130,000 and then divide the proceeds of the sale. I disagree.
2 ANSWERS
Your partner is right. The separate property portion is distributed first and then the community property equity is split. The line of cases handling this is *Moore-Marsden*. You should meet with a family law attorney to make sure all of the issues relating to this kind of case are covered. Good luck.
Answered on Apr 28th, 2016 at 5:24 PM
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Property acquired prior to marriage is the separate property of the person who acquired it. It is unclear from your question if there were principal reduction payments made during the marriage, but if the property was purchased outright prior to marriage, then it is wholly separate property. As such, he is wrong that he should receive his initial investment back. It is entirely his property and you would receive nothing. Given that the facts are extremely important to this issue and each case is unique, I strongly suggest talking with a family law attorney prior to working out an agreement on the division of this asset.
Answered on Apr 28th, 2016 at 5:24 PM