Maintaining my homes in a divorce - Posted by Catherine

Real Estate Investing
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Posted by JT-IN on July 11, 2002 at 18:17:10:

Catherine:

The difficult part in this is to get the spouse to agree to step aside, and sign those pesky papers. It seems taht you have that committment from the soon to be X Husband.

All that is required is to have a Quit Claim Deed prepared for each property, have him sign them in the presence fo a Notary, and your wish is granted. You will be the sole owner.

I whole heartedly suggest using an Atty to prepare, execute and record these docs for you.

Now to a bigger question… What is the prupose of the Land Trust? You will not be violating any DOS clause by this transfer, and no need to hide this transaction from anyone, unless there is some other contingent liablity that may be coming about as part of the divorce or other means. If not, then don’t sweat the Land Trust thing. If so, you may (and should) want more advice on asset protection than you will get right here on this site. Of course the site is great, but the level of advice required for specialized problems is best dealt with via a hands on basis.

Just the way that I view things…

JT-IN

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Maintaining my homes in a divorce - Posted by Catherine

Posted by Catherine on July 11, 2002 at 13:00:33:

I’m currently in the process of a divorce. I own two homes and I would like to remove my soon to be ex-husband from the title. Both houses are being financed. I reside in California.

What are my options? And what would be the best way to handle the situation?

I don’t want to sell the houses, but I would like better control. What is subject to making my mother the trustee and beneficiary be wise? My ex-husband would be willing to sign any necessary paperwork and I would prefer to not use an attorney in this matter. Any advice would help. Thank you.