Posted on: 07th Nov, 2008 05:16 am
I purchased a home before my wife and I were married and I was going to put her on the deed once married. 2.5 yrs have passed and she was not placed on the deed. She has helped with the mortgage payments. Our marriage is now struggling and this is one of the reasons. She is adamant about me putting her on the deed. I put all the money down on the house and at the time of purchase we were not even engaged. She says if I put her on the house, our marriage will go back to normal. My question is, if I put her on the deed, and we wind up getting divorced, what repercussions are there?
planning ahead, huh?
it seems like you're anticipating failure here. you ought to pose your questions to a lawyer to be safest, but it's pretty clear that your trust level isn't where it ought to be, particularly as far as adding your wife as a co-owner of the home. needless to say, should you add her name, you'd be providing her with the same rights to the property that you enjoy at present.
ramifications? well...she'd be equally entitled to the home as you once you make that change.
it seems like you're anticipating failure here. you ought to pose your questions to a lawyer to be safest, but it's pretty clear that your trust level isn't where it ought to be, particularly as far as adding your wife as a co-owner of the home. needless to say, should you add her name, you'd be providing her with the same rights to the property that you enjoy at present.
ramifications? well...she'd be equally entitled to the home as you once you make that change.
Hi Lee!
If you add your wife to the title of the property, she will become one of the owner's of the property. She will have similar rights as you have regarding the property. If you sell the property, she may demand some amount of the sale proceeds.
Thanks.
If you add your wife to the title of the property, she will become one of the owner's of the property. She will have similar rights as you have regarding the property. If you sell the property, she may demand some amount of the sale proceeds.
Thanks.
If you put your wife on the title, she will become a co-owner. In a community property state, she is a co-onwer by law. However, the courts use logic to compute percentage share. The spouse will own 1/2 of any equity accrued during marriage. This applies whether the spouse makes any payments or not. Thus, any equity acquired before marriage (down payment, market appreciation) is your separate property.
