-- Answers to Questions About Real Estate Law
Money and real estate news you can use everyday

Real Estate Lawyer
Question of the Week
Tip of the Week
Recommended Books
Contact Sam

Divorce Leads To Property Dispute

Ask the Real Estate Lawyer: Real Estate Law Q&A

REM #LAW 711

By Ilyce R. Glink and Samuel J. Tamkin

Summary: A reader is in the process of getting a divorce and wondering about the status of her home. Her husband quit claim deeded it to her, but Ilyce and Sam explain that the divorce court will rule on assets.

Q: In 1986, my husband and I bought a home. After 32 years of marriage we have separated.
(article continues below useful links)

When my husband wanted to refinance again the property last year before our separation, I didn’t want him to do it. So, I told him that I would only refinance if he quitclaimed the property to me. Mind you he was having some financial problems and really needed this refinance the loan to get a lower rate.

Months later, he moved out and I went to record the deed. We might reconcile in the future. But my question is whether the property is legally mine? And if we divorce, would he have any rights to the house?

A: For all practical purposes, once the quitclaim deed was filed the home became yours. But just because the home is yours doesn’t mean that your husband may not have certain rights to the home. In a divorce, the court will have discretion in determining which assets should be considered joint assets and which should be considered assets of only one spouse.

If you had inherited property from a parent and kept that property separate from your other assets, generally that type of an asset will be excluded from the marriage and at the time assets are spit up, the inherited assets would be excluded.

Certainly there are many scenarios and different things can and do happen. In your case, you and your husband bought a home twenty years ago and it is now yours, but in a divorce, the judge may consider the home as part of the assets in the marriage. Your husband does not live in the home and transferred title to you, but in deciding what money and property you should keep and what money and property your husband should keep, the home may be a factor.

After thirty-two years, it would be great if you and your husband could work things out. For more details on assets in a divorce, talk to an attorney.

Samuel J. Tamkin is a Chicago-based real estate attorney. Ilyce R. Glink’s latest book is 50 Simple Steps You Can Take To Sell Your Home Faster and For More Money In Any Market. If you have questions for them, write: Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact them through Ilyce’s website




RSS Feeds

RSS 0.91 Feed
RSS 1.0 Feed
RSS 2.0 Feed

Home Buying   Using Attorneys to Buy a Home - Earnest Money - Quitclaim Deeds - Easements - Seller Misreprensation - New Construction - Buying with Partners - Home Inspections - Seller Problems - Agent Issues
Home Selling    Using Attorneys to Sell a Home - Seller Disclosure laws - Title Problems - Buyer Problems - Real Estate Agent Issues - Tax Considerations
Home Ownership   Neighbor Problems - Seller Misrepresentation And Fraud Issues - Problems In a Condominium Development - Problems Around The House - New Construction Issues - Subdividing Land
Home Renovation   Architect Issues - Contractor Issues - Problems With Contractors - Inspection Issues - Certificate Of Occupancy - Municipal Inspections - Punch List Issues - Financing Issues - Installment Contracts
Real Estate  
Loan Application Problems - Refinancing Issues - Paying Off An Old Loan - Credit Problems - Seller Recommended Lender - Prepaying A Loan - Prepayment Penalties - Predatory Lenders
1031 Exchanges - Financing Investment Properties - Landlord and Tenant Issues - Partnership and Company Considerations - Tax Considerations - Subdividing Land
Contact Us | Sitemap | Terms of Use | Copyright ©2001-2005. ThinkGlink Inc. All rights reserved.
Reproduction of material from any pages without written permission is strictly prohibited.
Site design by Walker Sands Communications