Posted on: 17th Oct, 2010 08:52 am
during our fist 12 years of marriage, my husband invested in real estate. both of our names are in all mortgages. seven year ago I started a construction company. tree years later, my business was doing well and my husband requested that a quit claim all properties for liability reason. he did not want to be exposed to any problem because of my company.he informed me that i do not need to worry because maryland is a community property estate. well, i am concern becuase there is not will and i have a son from a previous marriage. I something happen to me, will my son receive his portion of the assetts? if something happens to my husband, What is my position in relation to all the properties. My name is still in all the mortgages but i quit claim all of them to him.
Welcome maryland,
If you transfer the property to your husband, then your son from the previous marriage won't have any heirship rights to the property. However, if your husband dies, then you'll become the sole owner of the properties.
If you transfer the property to your husband, then your son from the previous marriage won't have any heirship rights to the property. However, if your husband dies, then you'll become the sole owner of the properties.