House Value during a Three Year Divorce?

[Torakki]

What is the name of your state?Ca.
I want to find out when a house (community property) has the value placed on it during a three year divorce. I hear two different versions, one: when one party moves out (seperation) and two: Not untill the party that moves out has use of the funds. Well, there is a three year difference here, in opinions and house value. Anyone know the real law on this? Thanks.

 

[I AM ALWAYS LIABLE]

What is the name of your state?Ca.
I want to find out when a house (community property) has the value placed on it during a three year divorce. I hear two different versions, one: when one party moves out (seperation) and two: Not untill the party that moves out has use of the funds. Well, there is a three year difference here, in opinions and house value. Anyone know the real law on this? Thanks.

My response:

Not enough information. This is not a simple "this is the date" answer. To many variables come into play, such as, did both spouses contribute to the payments on the mortgage during the Dissolution proceedings? Did one of the spouses move to a Separate Property State? And, many, many, many other considerations and facts. You really need to go over your actual facts with a local Family Law attorney.

IAAL

 

[Torakki]

Hopefully this additional info will help in finding an answer. The party that moved out stopped paying "any" bills, including mortagae, well before moving out. Both of us still live in Ca. and her (the party that moved) still has personal items in the house and is requesting half of a rental income from a room I had to rent to pay the bills. I also have a strong feeling that they will claim they didn't have use of the house and do not owe half the mortgage for the past thre years. The reason the divorce took so long was because she could not prove a previous marriage was terminated for over two and a half years (it was in a different country). Does this additional info help in determining when the value would be placed on the house? Thanks.

 

[sddad]

I was in similar situation as my Ex moved out over a year and a half ago. The property is in CA. At the time my Ex moved out she had verbally agreed to me that she would accept the value of the house at the time of the separation. However, when we filed for divorce I was told that she gets the appreciation or depreciation at time closest to the agreement of dissolution and not the time of separation. Naturally, my Ex happily renegged on our original terms. I have been paying all mortages along with taxes, etc... To equalize things I was given Watts credits to offset the child support amongs other things.

To put it in plain English, if the property keeps appreciating I would try to reach an agreement to do the divorce ASAP or else the Ex would be entitled to 1/2 of the appreciation up to the settlement date and not the date of separation. Don't wait too long. That's my recommendation.