Wednesday, December 19, 2007

Voting Question: Husband and wife have been married for a little more than a year in a separate property, no fault divorce stat

I lived in my previous home 1yr & 9 mos(in CA) during which I purchased another home about 2 months before this time but the new home was vacant until I rented out some rooms in my original home.Then I moved out.I began renting the original home to a person who did not take responsibility & I am no longer working.Now my original home is in foreclosure.I have a buyer for this house though.Will I have to pay capital gains tax if I sell now according to what I mentioned above or am I better off just going for a short sale.What should I do?I don't have much equity now.I purchased for $295 right now its worth 340.I am new to all this please explain in simple terms.Thank you. is there anyway to prove that I stayed there for 2 yrs?can I use utility transfers or last payments to prove & do they really even find out these things?

Voting Question: Husband and wife have been married for a little more than a year in a separate property, no fault divorce stat


They have worked out a temporary agreement where he will remain in the home and she will live with relatives. The house is soley in her name, so subject to equitable division we're not talking a lot of equity. I think it's a bad idea for her to leave the house. My friend says otherwise. Any divorce attys care to speculate as to possible risks by her leaving the property (particularly if the husband is unable to purchase the home in his name in a reasonable amt of time). Thanks. Let me clarify. I'm rambling b/c we are in the middle of "fighting" about this.

Yes, she purchased the property just prior to marriage. They are in a "title theory" state meaning the separate property of the spouse remains that of the spouse holding title (subject to equitable division). At present, they have used joint funds to maintain the property (apparently the husband was not able to retain his own financing prior to the marriage, so she purchased the home on her own).

I know the risks are minimal, but in my opinion, b/c he doesn't have an obligation to pay the mortgage, she is putting herself at risks that he will continue to pay "half." Particularly, b/c it's not likely than within such a short period he will be able to obtain financing to purchase the home on his own.

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