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I purchased a home before getting married for the second time. Wife insisted I put her on the deed of title but not the loan about a year before we were married. She has never made a payment or helped with taxes or repairs to the house. We also have no children together and our kids are grown and married. We are both over 50. She sold her house and self finaced it and receaves payments monthly, only I don't see a penny.
Now after 5 years things are falling apart.
Question: Is she intitled to half of the house?
Why did you not get suspicious about her wanting to be on title and not on the note? That would have been a HUGE red flag for me. How do you guys file your taxes? Do you have any equity in your house or are you upside down on it? If you're upside down, I doubt she'll want to touch it with a 10 ft. pole. The level of how screwed you are depends on what state you're in and how good a lawyer you can afford. Sounds like your wife is no dummy, so I'd tread carefully and not post about it on the Internet if there's a chance she'll see it. On the off chance you're in VA, I know the toughest divorce lawyer ever there.
All depends on what state you are in. If you are in a community property state then yes you are. Depending on when she sold her house then you could be entitled to half that as well.
You need a really good lawyer. It is possible that she is entitled only to 1/2 the equity acrrued while you were married. Likewise, you may be entitled to 1/2 of her income from the sale of her house while you were married. Lot of figuring out needs to be done by a good lawyer.
Yes, once you put her name on the title it is considerd a gift, and she nows owns half.
I went through it myself. I was smart enough to never put her name on the title, so she was only entitled to half of the amount the home appreciated during the time she lived there. Saved me a fortune.
when it comes to divorse, life ani't never fair.
My situation was in California, it mat vary state ti state, but probly not much. The guy always loses... Good luck..!
Your probably intitoled to receive half of the money she accumlated whiole married. But many lawyers will advise that she/you take any cash out in 500 dollar lots over a period of months before filing and say you/she spent it on living expenses. Hard to prove otherwise.In the mean time the money is stashed some where.Mazny time divorced endup being a find the moeny game how days.
How sad. Reminds me of that girl that posted here telling us all that her and her boyfriend are going to get married and that she wants to be on the title. Yikes. If people only knew the truth..
Well, there's nothing wrong with wanting to be on title to the house you live in. But there's certainly no point in refinancing a good loan into a worse one just for the purpose of getting a spouse's name on title AND note. I owned my house before I got married and I wasn't about to give up my 4.375% rate just to get my wife's name on there. While a spouse is often entitled to half the equity in case of divorce, I don't believe they are on the hook for half the debt, in case you're upside down on the note. And that's just nuts.
I purchased a home before getting married for the second time. Wife insisted I put her on the deed of title but not the loan about a year before we were married. She has never made a payment or helped with taxes or repairs to the house. We also have no children together and our kids are grown and married. We are both over 50. She sold her house and self finaced it and receaves payments monthly, only I don't see a penny.
Now after 5 years things are falling apart.
Question: Is she intitled to half of the house?
You and her both owned your houses as separate property going into the marriage. The only way to ensure that separate property remains separate is to keep it separate.
When you put her on the title, you were indicating that the house is jointly owned.
When she sold her house and kept it separate from your finances, she indicated that it is separately owned.
At divorce, it's pretty likely that she could claim half of the value of your house.
Get a good lawyer. The short term of the marriage will help a bit.
In my stae that does not apply. For example if you buy a car and tilte it in one name. It is the portion of the value that was bought during the marriage that is community property reguardless of the name on tilte.I had a friend who actually used money he saved towards a home when they got married. he actaully got credit for the full dowenpayment because he had proof that this was money he had when they got married that was used for the down payment. Staes vary juts as they do in aliomony etc.Also0 in amny steate inheriotance is not communtiy property.Thios is the same reason that if one partner in amarriage buy something and signs they can go after both for any money owed.One name does tho allow the person to sell the property without the other signing but a court may holsd thyemn responsiable for the half owed to the other partner.Same goes for retirement accoutns money during a marriage if the courts have to settle it.
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