A California Divorce with Property

If husband and wife, in a California Divorce, have acquired property during the marriage and before their separation date, then the property is usually subject to community property laws.

The term ‘property‘ means:

1. physical property such as a house or condominium
2. retirement plans such as a pension, 401K or IRA etc.
3. other investments
4. cars
5. collections of art or other items of value

There may be other property issues.  There may be questions regarding inheritance or property purchased before the marriage but contributed to by both parties during the marriage.  These questions can be answered in consultation with the Divorce Attorney.

It should be noted that there may be a difference between who is on the loan for property and who is on title or has ownership of the property. Often husband and wife will both be on the loan as well as the title. However, sometimes this is not the case. The loan or title may be for property such as a house, condo or car. The transfer of ownership can be determined by the court or by the agreement of the parties.  However, the name on the loan will not change unless the loan is paid off and/or there is an ability to refinance.  A consultation with the Divorce Lawyer will alert you to the repercussions of this type of scenario.

Property issues can be agreed upon by a Marital Settlement Agreement  or a Stipulation in which all the details are addressed.  If the parties do not agree a trial will be needed and the judge will decide based on the facts of the specific case.

For more information on a Divorce with property contact Legal Action Workshop @ 800-HELP-444 (800-435-7444) or visit www.LegalActionWorkshopLAW.com .