Posted on: 26th Jul, 2008 12:24 pm
I just got my quitclaim thrown out, making the home a community asset. Didn't realize law changed w/Haynes case to require secondary contract. Though our verbal had me pay all payments while he payed his pre marital debt, He even loaned me money twice for payments which I proved he made me repay. Turned out he was running up as much debt as he paid as a ploy to avoid paying on the house which he was set to do in 6mos after his income had wiped out the debt. A year later he still said he could not contribute and needed another year. 2 years and eight months later when we filed for divorce he was still $30,000 in debt. What a nightmare, but I thought the title was secure especially since the down payment came from my prior sep property. But not so. Now the house is worth $75k less than the note and I'm struggling to keep it. Now that it is comm prop what does it mean? Did he win -$37k? What does he owe me as co-owner? I have made all pmnt for 3 years of divorce proceedings. Pmnt $4500 and rental value about $3200 and I'm in it w/kids. Does he pay half prop tax & repairs?
Your div decree and sep agreement will spell out what each party gets and doesn't get. This will supercede any verbal contracts.