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  1. #1
    Join Date
    Sep 2010
    Posts
    1

    Default Down Payment Loan from Family Member in California

    My question involves divorce in the State of: California

    When me and my spouse decided to buy a home, my father helped us with a down payment of $90,000.

    I have a written/verbal contract with my father that this amount is to be paid back in full if/when the home is sold.

    We are now selling the home and splitting the return 50/50 as a part of the divorce.

    My question is this-- Now that we are in the process of divorce, is my spouse responsible for their portion of the down payment loan ($45,000)? Or am I required to pay the $90,000 in full by myself?

    Any information regarding this issue and how to approach it would be greatly appreciated. Thank you in advance.

  2. #2
    Join Date
    Sep 2005
    Location
    California
    Posts
    64,947

    Default Re: Down Payment Loan from Family Member in California

    Normally, when there's a loan associated with real estate and the real estate is sold, the proceeds of the sale are used to pay off the loan. The remaining balance would then be divided between the parties. The details of your situation are unknown, so your mileage may differ.

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