Right of Survivership - Posted by Bob

Posted by John Merchant on August 25, 2003 at 11:18:21:

If W was my daughter or sister, I think I’d advise her to see a lawyer and get some good local legal advice, to pin down exactly what she will own and be entitled to (and liable for!) when married.

This is the reason wealthy folk use a “pre-nuptial” agreement, so both H & W understand exactly what they’re getting, and committing themselves to, BEFORE they’re in too deep. Converting the vague promises to real, enforceable agreement before the deed’s done.

My inlaws were married during the Great Depression, and my father-in-law, being the perpetual joker, never missed an opportunity to say he thought he was getting a Cadillac, but actually got only a Chevy, my MIL’s parents being financially wiped out by the depression just after they met.

And in this case, I think a PNA might be a very good idea, to cut through the murk & mud and get to the rock bottom of what the guy really has, what rights she’s going to have, etc.

Right of Survivership - Posted by Bob

Posted by Bob on August 21, 2003 at 23:16:58:

Question on form of (Ohio) ownership. My niece is getting married to a gentleman who states that she has RIGHT OF SURVIVORSHIP to the new house he supposedly purchased. She did not sign any papers and as far as we know, she is not named on the title, but she will be married to him shortly. Also, this gentleman just got a job a month ago. Question #1 - is it possible for him to get title and loan in his name with such a short work history, young and just establishing credit? Or is it more likely he has a co-signer or has made other arrangements (perhaps with his papa)? Question #2 - is this something for my niece to be worried about, being told she has right of survivorship, even tho she signed nothing?

Thanks in advance.