Posted on: 10th Feb, 2013 02:45 pm
I owned a condo with my parents prior to marriage in 1996. My husband and I lived in it from 1996-1998. In 1998 I took my parents off the deed and added my husband for the purpose of refinancing so we could use some of the equity for a downpayment on a new house. From that time in 1998 until 2003, the home was rented out, which paid the mortgage. In 2003, the husband signed off and I refinanced it in my name for a 15 year loan. We're still trying to resolve the real estate issues and it's my understanding that he has some Moore/Marsden interest in the property. I've been paying the 15 year mortgage since the the refi in 2003- it was rented out most of that time. and trhe rent did not cover the expenses with the 15 year loan so I was paying some out of pocket. Are there any adjustments I need to make to the usual MooreMarsden calculations?
Hi ckaten,
Moore Marsden rule is a complex one and I will suggest you to get in touch with a real estate attorney well versed with the community property interest laws of your state and take his opinion in this regard.
Thanks
Moore Marsden rule is a complex one and I will suggest you to get in touch with a real estate attorney well versed with the community property interest laws of your state and take his opinion in this regard.
Thanks