Real Estate Property Division
My soon be EX was removed from the house for Domestic Violance on May 15, 1999. I file for divorce on June25, 1999. I have restraining order against him for myself and my children. He gave up him visitation rights and any type of a custody. Since May 15, 1999 I am paying two mortgages for the house by myself. He would not let me refinance the house. I have mitigated loan payments with the mortgage company, he would not sign documents that he agree for mitigation. I am paying very large payments because I have an adjustable mortgage. I ask Court several time to give me Quit Claim Deed signed by Court Clerk, they did not do it, telling that we have to settle between us.
My first question is: Since I paid for the house by myself for over three (3) years, the amount I paid exseeds $80,000.00, plus $30,000.00 of a downpayment came out of the personal injury accident of my parents and myself, am I in title for the equity on the house(Our outstanding Mortgages are about $250,000.00 not a pay-off and we could sell this house according to sales in the area for about $305,000.00 to $325,000.00)?
I would appreciate your quick response. Sincerely, Olga
Re: Real Estate Property Division
Dear Olga:
Your correspondance raises a number of issues. As you are in the midst of this divorce, I am assuming you are going through this with the help of an attorney. All of the items you raise in your note need to be fully resolved in your marriage settlement agreement.
Thank you for your question and do not hesitate to contact if you need further help.
Martin Lathrop
Russakow, Ryan & Johnson
225 S. Lake Ave
Pasadena, NUS 91101
Re: Real Estate Property Division
Generally the house will be valued at the time of trial. I assume the value has gone up as values have in most of California and therefore he will get the benefit of that increase. You can ask for credits for making the house payments, but the court will almost certainly offset some or all of those credits by the rental value of the home. As you can see it gets complex and you should probably have an attorney assist you because you will have many opportunities to make mistakes that will cost you thousands of dollars. Waiting until now to request the division of the home will probably cost you tens of thousands of dollars. Good Luck, Pat McCrary
Patrick McCrary
Law Office Of Patrick L. Mccrary
9340 Fuerte Drive, Suite 203
La Mesa, CA 91941-4164