Posted on: 10th Nov, 2010 06:07 pm
Me and my wife are going to purchase a property together. I am providing the entire downpayment of approximately 50k. If we happen to divorce several years from now, will the property be divided equally given I provided the entire downpayment?
Hi joeyjj,
Welcome to mortgage fit,
If you happen to stay in any of the below mentioned state......
Arizona
California
Idaho
Louisiana
Nevada
New Mexico
Texas
Washington
Wisconsin
then even if you have put down payment of 50 K you are still liable to give 50 % stake to your spouse..All the above mentioned states are termed as community property states.....
If you happen to stay other than above mentioned states then you have make it clear in the property documents that you will be holding extra equity in the house due to payment of down-payment.
Feel free to ask any further query if you have.........
DIPA
Welcome to mortgage fit,
If you happen to stay in any of the below mentioned state......
Arizona
California
Idaho
Louisiana
Nevada
New Mexico
Texas
Washington
Wisconsin
then even if you have put down payment of 50 K you are still liable to give 50 % stake to your spouse..All the above mentioned states are termed as community property states.....
If you happen to stay other than above mentioned states then you have make it clear in the property documents that you will be holding extra equity in the house due to payment of down-payment.
Feel free to ask any further query if you have.........
DIPA
He bought house pre-marriage (1997) $115,000- no down payment. payment $980/mo. she moved in 10 mos later - contributed $500/mo; married 2 years later (2000); separated 10 years later (2010); value of property in 2010 $550,000; divorcing - value of house down to $280,000 (2013) His atty says her share $16,000. I figure differently. Help.
Welcome Pat,
You and her attorney will have to sit together and discuss the matter. This will help both of you know what type of calculations are involved. And, thus, both of you will be able to come to a solution in this regard.
You and her attorney will have to sit together and discuss the matter. This will help both of you know what type of calculations are involved. And, thus, both of you will be able to come to a solution in this regard.
Does moore marsden calculations apply to texas divorice
Hi Solomon,
As far as I know, Texas is a community property state. In such a situation, the Moore Marsden calculations will apply when you file divorce.
As far as I know, Texas is a community property state. In such a situation, the Moore Marsden calculations will apply when you file divorce.
These below mentioned name of the state comes under the "community property state."
Arizona, California,Idaho,Louisiana,Nevada,New Mexico ,Texas Washington and Wisconsin.
Therefore, if you stay in these above mentioned states, your property will be divided between you and your spouse inspite of the fact that you made a down payment.
Arizona, California,Idaho,Louisiana,Nevada,New Mexico ,Texas Washington and Wisconsin.
Therefore, if you stay in these above mentioned states, your property will be divided between you and your spouse inspite of the fact that you made a down payment.