Posted on: 01st Dec, 2008 01:07 pm
Hello, I live in the State of Ohio. My wife and I own a house together that is worth approx. $300K. It is paid for. We want to put the house in her name only, since I own a corporation, and we want to protect the house if I would ever be named personally in a lawsuit against my company.
My question is, would I have any rights to this asset if I signed it over to my wife because of the fact that we're still married?
We're not having marital problems, so part of me thinks that this arrangement shouldn't even be an issue. But it also makes nervous to be living in a house I would have no legal right to.
Any advice?
My question is, would I have any rights to this asset if I signed it over to my wife because of the fact that we're still married?
We're not having marital problems, so part of me thinks that this arrangement shouldn't even be an issue. But it also makes nervous to be living in a house I would have no legal right to.
Any advice?
Welcome kcorp,
You can quitclaim the property to your wife but if you want to retain some rights to the property, then you can add a life estate clause in the quitclaim deed. This will give you the right to live in the property until death.
You can quitclaim the property to your wife but if you want to retain some rights to the property, then you can add a life estate clause in the quitclaim deed. This will give you the right to live in the property until death.
Hi, I would like to know how i can give up all rights to pension,retirement accounts ,stocks. I am married and money is always a fight. I hope to build trust in spouse by him not being responsible for any debt i may incure. we would pay seperate bills ect.
Hi dee!
Welcome to forums!
As far as your assets are concerned, you'll have to divide it amongst yourselves. You can decide which of the assets you wish to keep in your name and accordingly take the decision. As far as stocks, accounts and pension is considered, I would suggest you to contact an attorney and take his opinion in this regard.
Sussane
Welcome to forums!
As far as your assets are concerned, you'll have to divide it amongst yourselves. You can decide which of the assets you wish to keep in your name and accordingly take the decision. As far as stocks, accounts and pension is considered, I would suggest you to contact an attorney and take his opinion in this regard.
Sussane
can they make my wife sell the house due to a personal bank loan on which i took out
craig, who is "they"?
and if you have a personal loan, for which the collateral is merely your signature, that ought not to have any impact on your wife whatsoever. if a lien was placed on the home, that could cause some issues, but personal loans aren't written in that fashion.
and if you have a personal loan, for which the collateral is merely your signature, that ought not to have any impact on your wife whatsoever. if a lien was placed on the home, that could cause some issues, but personal loans aren't written in that fashion.
