Posted on: 19th Mar, 2011 11:28 am
My inlaws are purchasing a beach home. The home will be listed as the two of them as owners, along with my husband and his sister. I am being asked to sign an Interspousal Transfer Grant Deed. We have been together for 12 years, married for 10 and have two children. (a divorce is not on our agenda) His sister, newly married, must also have her husband sign the same papers. Am I signing the rights away to my portion of the home? My husband and his sister will become 50/50 owners after his parents pass away. What's the point? Is it all to protect him in the event of a divorce? It's a bit of a slap in the face to me, personally, to feel that I am no more apart of this family then a stranger on the street if I have to sign my legal rights away on every new transaction that comes into our lives. Anyone??
Hi bhndthlns,
If you sign the inter-spousal deed, then you won't be able to claim any rights to that property. Your husband will have ownership rights to the property but you won't be able to claim any ownership. Normally, if your name is not on the mortgage, then the lender can ask you to sign such a deed.
Thanks
If you sign the inter-spousal deed, then you won't be able to claim any rights to that property. Your husband will have ownership rights to the property but you won't be able to claim any ownership. Normally, if your name is not on the mortgage, then the lender can ask you to sign such a deed.
Thanks