Q: Married 10y. Home purchased 7y ago under wifes name due to my credit. If we split, do I risk losing home rights w/o
having my name on the title or loan paperwork?
A:
This is an incomplete answer. The property is in California. You state you were married when the property was purchased, with only your wife on the grant deed. However, California is a community property state. Therefore, it is presumed to be community property. The presumption is rebuttable.
Some of the factors that will determine the outcome: Who has contributed to the expense of owning and maintaining the property, expenses such as: house payment, taxes, signers on the bank account from which such expenses are paid. Did you deposit your earnings into a joint bank account from which the house ownership expenses were paid? If both spouses contributed in any way, I believe it will be confirmed as community property, in which case you have a 50% equitable interest. What happens then? I recommend that a divorce lawyer should be consulted to determine that and confirm what I have stated above.
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