Reimbursement: Being in accord with CALIFORNIA CODES FAMILY.CODE SECTION 2640a.: The homes value is below what we owe(Negative equity). So, do I still have to pay back the other party for the separate contributions made to the down payment, upgrades like a pool, landscape, etc?
This is a rather complicated question. Typically you would have to share the profits and the losses together. That will depend on whether the contributions are community property or separate property, whether it was made as a gift, etc. You need to sit down with an attorney to look at each and every contribution, i.e., the pool, the landscape, to figure out whether it was funded by separate property or community property and how the other party should be reimbursed.
