Effect of How Title is Taken

Question 1

Joint and Equal Form

Answer 1

title lists both spouses

Question 2

Marriage of Lucas

Answer 2

Taking title as joint tenants property is presumptively CP.

Means that neither spoue has any separate ownership interest and no claim for reimbursement.

E.g. if you buy a house for $60K, W puts down $15K but you take title as W and H, then you can’t claim any SP unless you show an agrement to that effect

IF ONE PARTY DIES - you can only get reimbursement and no separate property

DIVORCE - you can get reimbursement for SP

Question 3

Anti-Lucas statutes

Answer 3

for ownership and reimbursement issue when divorce or separation is at issue

OWNERSHIP - property acquired during marriage in joint and equal form is presumptively PC (equal on divorce). Can rebut with

1. express statmetn in the deed or other intsrument of title that property is SP OR
2. written agreement by the parties that property is SP

REBIMURSEMENT - spouse who made contribution of SP to the acquisition or improvement of CP is entitled to reimbursement without interest for contributions to DIP (Down payment, Impovements, or Principal payments on mortgage)

WHA’TS THIS MEAN? Without an agreemetn you can’t change the division but you can get reimbursemtn.

THERE MUST BE A TITLE DOCUMENT OR DEED TO APPLY THIS. RECEIPT IS NOT ENOUGH

death or divorce you can get reimbursement

Question 4

How to apply Lucas vs. Anti-Lucas

Answer 4

Lucas - only names one spouse bc no joint and equal form so use source and tracing

Anti-Lucas - deed names Husband and Wife –> subject to equal division upon divorce unless there is a written agreement or deed specifying one spouse