Dissolution / characterization of real property
Dec 09, 2014OUTCOME: Court ruled Husband was entitled to dollar for dollar reimbursement only because Initial vesting of title occurred after marriage. This outcome resulting in a $100,000 increased to the community and and $50,000 equalization payment to Wife (client)
Dissolution Two issues were before the court, 1) request to dissolve restraining order, and 2) characterization and value of the community’s (family’s) primary residence, real property located in Ca ... lifornia. The characterization of the property being the primary, and $50,000, issue. Property was acquired by Husband prior to marriage in a questionable manner from an alleged Trustee of the deceased owner. The Agreement between Husband and Trustee was quasi-rent to own. Husband paid $50,000 down and made monthly payments prior to marriage. The title to the property remained in decedents name. Husband made 10 years of payments prior to marriage. Shortly after marriage, wife (client) and husband paid off the remaining balance on the property. A grant deed conveyed the property from decedent to Husband and Wife. The initial vesting of the title was to Husband and Wife. CHARACTERIZATION OF PROPERTY Husband, Petitioner, argued he had a separate property interest in the property equivalent to the value of the property on the Date of Marriage, essentially 2 years of appreciation on the property prior to marriage. Husband argued a $200,000 separate interest in the property. Wife, respondent, argued a dollar for dollar reimbursement to Husband of Husband's $50,000 down payment and sums paid prior to marriage totaling roughly $100,000.
