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Interspousal transfer of real property

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richv928 Joined: 03 Aug 2008 Posts: 1 1.60 Dollars($)	Posted: Sun Aug 03, 2008 2:29 pm    Post subject: Interspousal transfer of real property Like 0 Dislike 0 My wife and I reside in different states. We have property in each, separately maintaining each. She needs to take care of her Mom in the other property. We are considering mutual interspousal transfers of real property. She's retired, whereas I have several more years to go before that. Upon potential sale of both properties we could recombine profits and purchase one home after her Mom passes.
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Sun Aug 03, 2008 10:12 pm    Post subject: Like 0 Dislike 0 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. _________________ Procrastination is the enemy of your financial success
jerry Moderator Joined: 17 Oct 2005 Posts: 2615 Location: MICHIGAN 415.19 Dollars($)	Posted: Mon Aug 04, 2008 1:24 pm    Post subject: RE: mutual interspousal transfer Like 0 Dislike 0 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

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