Salinas, CA asked in Estate Planning, Family Law and Probate for California

Q: When increasing separately inherited property, by an 1031 exchange, is my spouse entitled to the any of value in CA?

I inherited 1/3rd of my parents house, upon sale I would like to invest using a 1031 exchange in a larger value property that will generate income. I do not know if my spouse is entitled to any revenue generated from the future value increase or the income it generates or does the purchase alone make it community property? We have been living separately for over two years.

1 Lawyer Answer
Crista Marie Haynes
Crista Marie Haynes
  • Redlands, CA
  • Licensed in California

A: California defines separate property as that property acquired prior to marriage, after the date of separation, property acquired via inheritance, gift or devise. California additionally defines all rents, proceeds and interest generated by separate property to be the separate property of the acquiring spouse. So with the limited amount of facts you've presented it seems as if the income your separate property inheritance generates will be your separate property for multiple reasons, one because it was acquired via inheritance and two because you've been separated for over two years.

But you should call a family law lawyer and give them ALL of the details to fully protect yourself and make sure you are doing it in a fashion that completely protects you. If you have further questions please do not hesitate to contact me at my office.

1 user found this answer helpful

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.