I live in California, I'm in the middle of negotiating a divorce settlement and I need a second opinion. I was married for 11 years, my husband owned a house for about 8 years prior to our marriage, we married and lived in that house together for 6 years. We took a HELOC out on that home to purchase another house and during the lending process it was discovered that the only blemish on my credit was a credit card fraud that I had no idea existed. We were told that because California is a community property state that I needed to sign something in order to make it separate property to make the loan go through. We were also told that all we had to do was come back in as soon as escrow closed & they would deed me back on. Stupidly and in good faith I agreed and so did my husband. Well, of course, my husband refused to deed me back on, I kept insisting we do it & he kept refusing despite our agreement! Now 6 years later the house sold & after everything was paid off there is a profit of $407k & because I signed that form my ex is offering me 42k for my part of the house. My attorney seems to find this acceptable and called it "a gift". Meanwhile I completely disagree and find this to be extremely unfair! I feel completely duped! I would like to know if this is what I need to accept or is there a way to get my share of the profit?
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