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My STBX wife purchased a home, in her name only, several months before we were married. She is now preparing to sell the home for a substantial profit. We have both agreed that I am entitled to "contributed equity" in the home. As I understand, that would be one half of the equity at time of divorce. My question is this, because we are in a community property state, am I entitled to one half of the profits generated from the sale of the home?
Back-round info - I have resided at the home since the date of purchase. The title company is requiring me to be present at the time of closing and sign a document stating that, "100% of the proceeds are to be payable to you (STBX) and 0% to him (me) or however you both agree as to how the proceeds are to be disbursed. " As of now there is no formal agreement regarding the disbursement.
Please feel free to ask any follow up questions to help clarify.
TLDR - Am I entitled to half of the profits from the sale of a home in a community property state, of which I was not listed on the deed, but payed one half of the mortgage the entire time?
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- 5 years ago
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