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57th dust off
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 Posted: Sun Dec 09, 2007 12:19 pm Post subject: How does signing of deed affect community property? |
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during the course of the short term marriage. We purchased a house. Due to the poor credit of the soon to be ex. The only way to qualify for the loan was for her to sign a interspousal transfer deed. Now her attorney is saying that it is community property..yes or no. Also a house she had before marriage was re-financed and placed both our names on the deed, title and loan. Does all part or some of that house fall under community property?
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Michel
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| Posted: Sun Dec 09, 2007 10:17 pm Post subject: |
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Hi,
Which state do you live in? Whether your house is a community property or not depends upon the state in which you live.
Property acquired before marriage is usually considered separate property but as far as I know, if the name of the spouse is added to the title, then it becomes a community property. |
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 jenkin7
Joined: 04 Jun 2007
Posts: 3429
Location: Hawaii
514.13 Dollars($)
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| Posted: Mon Dec 10, 2007 5:14 am Post subject: |
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Hello,
If your wife has already signed an interspousal transfer deed to remove her name from the title, that will even remove her community interest in the property.
But the separate property to which your name has been added at the time of refinance, I think that will be considered as a community property if you are living in a community property state. |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.49 Dollars($)
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| Posted: Wed Dec 12, 2007 6:32 pm Post subject: |
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Hi,
After signing the quitclaim deed, your wife has removed her name from the title. So this property will not regard as a community property now.
"Also a house she had before marriage was re-financed and placed both our names on the deed, " So that property will be counted as a community property.
Thanks,
Larry |
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jheard
Moderator
Joined: 12 Dec 2007
Posts: 599
Location: Houston, TX
98.69 Dollars($)
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| Posted: Thu Dec 13, 2007 8:56 am Post subject: |
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If your wife has a lawyer in your divorce, you should get one too.
There is no simple answer to your question. It all depends, also, on your state's laws.
Generally, property acquired during marriage is community property, regardless of how title is held. It is up to a judge to determine what is, or is not, community property.
I would consult with a divorce lawyer immediately to get answers to your questions.
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Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation. |
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