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re: Question about property ownership
Posted on 6/4/18 at 1:39 pm to 70739tigah
Posted on 6/4/18 at 1:39 pm to 70739tigah
quote:
What if the mortgage was paid for with separate income. It wouldnt be community property if the mortgage was paid for with separate income...rental property income. It would be community property if the mortgage was paid for with community income...salary.
Incorrect. If community income is used to "pay down" a mortgage on the separate property of a spouse (i.e. property acquired prior to the marriage), it does not change the status of the property from separate to community. In the event of divorce, the non-owning spouse is entitled to reimbursement for 1/2 of the principal reduction made on the mortgage loan.
This post was edited on 6/4/18 at 1:40 pm
1
Posted on 6/4/18 at 3:31 pm to Kim Jong Ir
quote:
Incorrect. If community income is used to "pay down" a mortgage on the separate property of a spouse (i.e. property acquired prior to the marriage), it does not change the status of the property from separate to community. In the event of divorce, the non-owning spouse is entitled to reimbursement for 1/2 of the principal reduction made on the mortgage loan
SOMEONE stayed at a Holiday Inn Express last night
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