Question:
I live in CA. I bought my house before marriage and the house is under my name only. My wife signed a Quit Claim Deed on the house. I have a home equity loan but the bank officer required my wife to sign the loan app. even with Quit Claim. With a divorce, is my wife entitled to half of the equity in my house?
Answer:
I must advise you that I am not licensed in California. You should always seek the advice of an attorney in your state. As a general rule, all property acquired before or during marriage will come into the marital pot. Which means it will all be divided in a divorce. It does not matter how property is titled. The same is true for debt. However, you can argue that you should receive a greater share of the marital pot based on your premarital assets. For example, if you house had equity of 50K at the time you married you can ask for 50k more in assets from the marital pot. Keep in mind that many factors go into dividing marital assets. It is importatnt to know the factors that California uses.
