Will I lose my share of the equity?
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Will I lose my share of the equity?
| Fri, 07-27-2007 - 3:00pm |
I live in CA and want to know, if I move out of our house, will I lose any portion of my half of the equity in the house? The house is the most important thing to him - sees it as his main security - and I wouldn't mind if he bought me out (if he could afford it), but I don't want to risk losing my part.
Thanks for any and all responses.

I don't think so, but best to consult and attorney.
I think you need to have your name on the deed and maybe on the mortgage. You may also have to prove you made an investment in the purchase of the property. Your share isn't necessarily 1/2, at least in my state. Here one or both parties can prove they made a more significant investment in the property (down payment, improvements, mortgage payments, etc) and therefore entitled to more than half the equity. Consult a lawyer.
M
Each states laws do treat this different. In my state, the court looks at the total marital assets and debt. They then take the total amount and divide it. So one person might end up with all the equity in the house but in order to get that have to give up liquid assets such as savings or stocks. And in my state, it doesn't matter who put in how much money, when the home is purchased together, all money put in is considered a "gift to the marriage" and becomes equity equal for both parties.
Find out how CA deals with these issues.