Posted on: 03rd Aug, 2008 02:29 pm
My wife and I reside in different states. We have property in each, separately maintaining each. She needs to take care of her Mom in the other property.
We are considering mutual interspousal transfers of real property. She's retired, whereas I have several more years to go before that. Upon potential sale of both properties we could recombine profits and purchase one home after her Mom passes.
We are considering mutual interspousal transfers of real property. She's retired, whereas I have several more years to go before that. Upon potential sale of both properties we could recombine profits and purchase one home after her Mom passes.
Welcome Richv,
The transfer looks ok to me, so just in case you're sure you want to do that consult an attorney for any legal complications you may not be aware of.
The transfer looks ok to me, so just in case you're sure you want to do that consult an attorney for any legal complications you may not be aware of.
Hi Richv,
You can go for the interspousal transfer but make sure that you record the deeds in the states where the properties are located.
Thanks,
Jerry
You can go for the interspousal transfer but make sure that you record the deeds in the states where the properties are located.
Thanks,
Jerry