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Updated about 5 years ago on . Most recent reply

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Jim Balderrama
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Rental property as part of divorce in CA. My share of value?

Jim Balderrama
Posted

My wife had a condo for 4 years before we married in 89. We were married for 30 years, and during that time the rent checks were deposited into our joint checking account which provided the funds used to pay mortgage, property tax, and other expenses such as HOA. In 1991, my name was added to the title. Checks were written payable to her and me. We paid off the mortgage a few years ago. I also managed the interactions with our long term renter and handled the issues that came up at rental unit. The value of the condo has gone up from about $75K in 1989 to $375K today. Am I entitled to any of that profit? Thank you for any guidance.

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