If i get a divorce am i forced to sell the house we live in?? california state law??

[Mylle]

Me and my wife are splitting up. we just bought a house 8 months ago and i want to stay in it. my wife is fine with that since she cannot afford to pay the mortgage. I will pay here half of the equity in the house which is maybe $10000.

my question is.

i just talked to my buddy and he says that it is california state law that you have to sell the house??? this cant be true. can it??

thanks

Mylle

 

[Mill]

Originally posted by: Mylle
Me and my wife are splitting up. we just bought a house 8 months ago and i want to stay in it. my wife is fine with that since she cannot afford to pay the mortgage. I will pay here half of the equity in the house which is maybe $10000.

my question is.

i just talked to my buddy and he says that it is california state law that you have to sell the house??? this cant be true. can it??

thanks

Mylle

Get a lawyer.

 

[PsychoAndy]

i think so. isnt CA community property?

 

[Legendary]

You might want to read this.
I myself didn't read it, but it might be helpful to you. I live in NY so I can't say.

 

[ICantAffordIt]

No this is not true. If you two can agree on the details, you don't have to sell the house. I've had two friends get divorced here in CA and both were able to keep his house.

Of course, this was 5 yrs ago or so, but I can't imagine they would have made some law like that.

 

[Mylle]

thanks,

thats what i though.

 

[vi edit]

Sounds like a bullsh!t law for the gubment to weasel some capital gains taxes out of somebody who's just got done getting screwed over.

 

[TNTrulez]

Originally posted by: Millenium

Originally posted by: Mylle
Me and my wife are splitting up. we just bought a house 8 months ago and i want to stay in it. my wife is fine with that since she cannot afford to pay the mortgage. I will pay here half of the equity in the house which is maybe $10000.

my question is.

i just talked to my buddy and he says that it is california state law that you have to sell the house??? this cant be true. can it??

thanks

Mylle

Get a lawyer.

 

[vash]

Usually selling the house is when the two of you are having a messy divorce and both parties want 50% of everything. If your wife is ok with you keeping the house, then it can be worked out. Divorces can be messy, or clean, all depends on the breakup. You should see a lawyer, at any rate.

vash

 

[Stark]

no you don't.

My co-workers wife and kids still live in the house they bought before they divorced.

 

[Harvey]

If the separation is "amicable," anything you work out between you is probably OK, as long as it's otherwise legal. Since you've only been in the house for eight months, you probably don't have much equity in the house, so it's just a matter of settling who will assume the obligations. You may also have to check with the lender to see if this affects the terms of the mortgage. As others have posted, the correct answer is, check with a lawyer.

Good luck getting through a hard place in your life.

Originally posted by: vi_edit
Sounds like a bullsh!t law for the gubment to weasel some capital gains taxes out of somebody who's just got done getting screwed over.

You're so full of sh8, you remind me of some word play on the title of a famous country tune, Don't It Make Your Blue Eyes Brown?

 

[TNTrulez]

Originally posted by: Mylle
Me and my wife are splitting up. we just bought a house 8 months ago and i want to stay in it. my wife is fine with that since she cannot afford to pay the mortgage. I will pay here half of the equity in the house which is maybe $10000.

my question is.

i just talked to my buddy and he says that it is california state law that you have to sell the house??? this cant be true. can it??

thanks

Mylle

Wait, how much have you invested in the house already?

 

[bsobel]

In your case this is not true. You can be compelled to sell community property if you wind up having to have a judge enforce a settlement (this happens when the people are such idiots they'd rather screw themselves just so they can screw the other person). Basically, say all you both really have is the equity in the house, the only way one of you is going to get their 1/2 is to sell it. In your case, you've already come up with an agreement and are going to 'purchase' her ownership from her.

You should get a lawyer, as was suggested, to prepare everything. You don't want there to be any ownership questions down the road (a worst case example, she remarries in a few years and dies a year later in a car accident, the new husband now claims that 1/2 your house was still owned by her, and therefor now him). Stuff like this actually happens.

Bill