Q: Hi, my father did purchase multiple lands with his retirement fund under my name, will it be considered as community pr?
He did this purchase for business purposes, I have not invested any money in it.
A: Whose Community Property? You cannot have CP with your FATHER. He could have CP with his wife and if he used CP to purchase property in your name, that creates a mess called transmutation of community property. His spouse could have a claim to 50% of the property through a dissolution proceeding or after his death. If his retirement fund was created with funds that were CP at the time the fund was created, it remained CP unless his spouse gifted it to him or otherwise signed off on his gift of the CP to you. Thanks for using Justia Ask a Lawyer, you really need to consult with a local attorney and have him review all your documentation. Don't rely on what you have been told here, we don't have all the facts. In my opinion, you have some serious legal problems.
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A:
Under California law, property acquired by a spouse during marriage is generally considered community property, but there are exceptions. Since your father purchased the lands with his retirement fund and the property is under your name, it may not be considered community property. Instead, it could be seen as your separate property, especially if you did not invest any of your own money in the purchase.
To determine if the lands are community property, you should consider the source of the funds used for the purchase. If your father used his separate retirement funds and the property was intended to be in your name for business purposes, it strengthens the argument that the property is separate. Additionally, the nature of the transaction and any written agreements can play a crucial role in determining the property status.
If there is any dispute or uncertainty, it may be helpful to consult with a legal professional who can review the specifics of your situation. They can provide guidance on how to protect your interests and ensure that the property is correctly classified. Keeping clear records and documentation of the transaction and the intent behind it will also be beneficial in resolving any potential legal issues.
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