How to value property in california divorce
If spouses present conflicting values at trial the judge must choose either value or use that of an expert appointed by the court. The judge is not permitted to split the difference between the conflicting house values.
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- How Do I Divide Real Property in a California Divorce?.
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Dividing a Business: What You Need to Know About Valuation in Divorce
Close Popular Related View All. Gardner Henry F. Oakland Office More Contact Info. In many cases, spouses simply divide the debt owed by half, and each spouse takes on debt equivalent to that amount. Creditors can seek payment regardless of which spouse agrees to take on responsibility for the debt after the divorce. To avoid future problems with debt payment, spouses sometimes agree to pay off credit cards and other debts with proceeds from the sale of property.
Dividing The Family Home in a California Divorce
The spouse who takes on credit cards also can secure a new credit card and transfer the existing debt. If a spouse incurs debt after separating but before the divorce is final, the debt falls into one of two categories.
If the debt is necessary for daily life or for the needs of children, the court may assign it to either spouse depending on the ability to pay. Debt for unnecessary expenses typically is assigned to the spouse who incurred the debt.https://napanadow.gq
Methods of Business Valuation
Skip to content. Property Division in California Divorce.
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Community Property in California The State of California recognizes community property, which includes any debt or property a couple amasses from the time they become married till they separate, and it remains community property until a distribution approved by a judge. Property Division Can Be Confusing.
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