The Family Residence

WHO OWNS THE HOME?

When a couple divorces, the family residence is often the largest investment and their most valuable asset. In a family law case, when there is an owned family house, the home may well be the subject of an emotional attachment. Not only for the spouses but the children as well.

Most commonly, in divorce cases, the family residence is community property (one-half owned by each of the spouses). Typically the parties hold the property as joint tenants. In joint tenancy, each spouse owns an equal share on the property; on the death of one party, the other normally takes complete ownership with the right of survivorship.

In California Family Law cases, we most often see that a home is held in joint tenancy and is community property. However, it may differ in a case where one of the spouses paid the entire down payment or perhaps made payments from another property source. In this instance, the party who made the payments is entitled to reimbursement.

Often we see where the residence is solely in the name of one spouse. If one person is not listed on the deed, yet that person has made payments towards the property, then our Family Law Courts often will give credit for mortgage payments made. However, a spouse who brought the residence into the marriage most often will see the advantage, if the home has increased in value.

If you believe you own a home in a divorce, yet you are not listed on the deed, it is most important that you contact a qualified Family Law Attorney who is advanced in the area of property division. Frequently, a spouse is told by the divorcing spouse that he or she doesn't need an attorney, or that this can be worked out without counsel, or perhaps he or she reassures that trust is not an issue. Always check with counsel before signing anything that you question.

Call the Law offices of Richard K. Isles toll free at (888)513-5924 to schedule a consultation.

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