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California Community Property Keyed to Carrillo, 11th Ed.
Marriage of Tammen
Citation:
63 Cal. App. 3d 927 (1976)Facts
Richard and Elizabeth Tammen’s marriage was dissolved by interlocutory judgment. The trial court awarded Elizabeth community property totaling approximately 79 percent of the whole, including the family residence. To equalize the division, the court ordered Elizabeth to execute and deliver to Richard a promissory note for $19,820.80 bearing 7 percent simple interest, secured by a second trust deed on the family residence. The note’s principal and interest were payable upon expiration of ten years, Elizabeth’s remarriage, sale of the property, voluntary refinancing, ceasing to occupy as family residence, or her death, whichever occurred first. The note was subject to a first trust deed of $18,497.12. Richard contended this arrangement was inequitable because the note’s actual value was far less than its face value.
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