Quitclaim deed transfer for home to protect myself. The deed is only in my name!

EnvironmentalAd3558 · 2024-02-14T22:28:55+00:00

If you do not get fair market value paid by your relative for the home then it in most states could be argued that it was a fraudulent conveyance under the State’s Uniform Fraudulent Conveyance Act. If you were paid the fair value for it then that would be subject to a claim that it is part of the marital estate.

You can’t give away marital property without having consequences.

It unlikely that none of the equity would be considered as part of the marital estate. The possibilities are that at least the reduction in the mortgage from the date of marriage to the now is part of the marital estate. Many courts will just treat all of the equity as marital property. Some might just look to the increase in FMV from the date of marriage plus the decrease in the mortgage balance as marital property.

If the court finds hidden assets you will probably be dealt with harshly by the court.

I don’t know how you could hide your home from your wife.

NothingIsEverEnough · 2024-02-14T20:32:12+00:00

ok, this gave me a giggle. you're a genius, any smarter and you'd be the god damn president

I doesn't matter if you deed over the house. that could be considered waste and you'd still be liable to pay for it.

What you need to is a fair calculation of what portion of the house she is entitled to, and then buy her out.

Heavy_Guitar_4848 · 2024-02-14T20:14:10+00:00

You could probably buy her out for cheap if most of the homes equity was paid for with pre marital money

jimsmythee · 2024-02-14T19:53:41+00:00

You bought a house after you got married. Does the deed say "You as a single man" or "you as a married man as separate and sole property" and there's a deed disclaimer saying she has no interest in the property.

RichardCleveland · 2024-02-14T19:22:17+00:00

The problem is the house is also hers. Homes purchased after the marriage become "marital property" regardless who's name is on the deed. My name also is solely on the deed... but turns out I am only entitled to half of the proceeds. Were your other assets attained prior to the marriage? Unless they were don't think that you are free and clear of any BS.

I don't know the laws in your state though, so maybe things are done differently there. I just know in mine that only a few things are protected after the marriage, such as inheritance. And that can even be sketchy if it gets intermingled with your joint accounts.

But I assume you are using an attorney if you KNOW that your assets are protected. So what does he say in regards to the house situation?

SmugFrog69 · 2024-02-14T19:19:34+00:00

This is a question that’s worth spending $ on a lawyer! Seek actual legal advice even though you haven’t started the divorce process yet. That action will not just ‘look bad’ it could be both a waste of time and money and she will still have entitlement to the property and the value of it as well.

Successful_Ad7095 · 2024-02-14T19:18:34+00:00

Probably would have been better putting it in an irrevocable trust. The way you’re doing it, they might give her the entire thing for trying to hide assets. Courts don’t play about that in particular.

Reflog1791 · 2024-02-14T19:17:22+00:00

What you should be doing is getting your documents in perfect order. Make it so fucking obvious house 2 was bought from proceeds of house 1.

What is going to happen is she is going to get a share of equity in house 2. You need to pinpoint that number with irrefutable evidence.

The number should look like this: Pre-marital house 1 proceeds = x. Down payment from those proceeds (prove it with bank records) on house 2 = y. Fair market value of house 2 on wedding day = z. Fair market value of house 2 today = t.

Equity owed to wife = t-z / 2

This is the simplified version because you bought house 2 after the wedding day. Your job is to prove that the down payment came as exclusively as possible from the pre marital proceeds of the sale of house 1.

Basically, if you can prove that the lawful share of her equity should NOT include the down payment, you are going to be fine.

Data_Fan · 2024-02-14T19:06:06+00:00

Your thinking about the farcical shit to come is correct, but keep in mind the Courts are designed to screw you, and will likely succeed.

Note a quick claim deed transfers the your rights to the property without defining what those rights are, so Judge could find that marriage conferred rights to half the house to her, and there's nothing you can do about it, except for settle before it gets to that.

dday_throwaway3 · 2024-02-14T19:04:10+00:00

You're an idiot if you think you're smarter than the judge, your attorney and her attorney. They've seen it all, including hairbrained ideas like this.

Title	Quitclaim deed transfer for home to protect myself. The deed is only in my name!
Author	ThrowawayCogWheel
Upvotes	2
Comments	23
Date	February 14, 2024 6:47 PM UTC (2 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/1aqufm2/quitclaim_deed_transfer_for_home_to_protect/
Archive Link	https://theredarchive.com/r/Divorce_Men/quitclaim-deed-transfer-for-home-to-protect-myself.1245408 https://theredarchive.com/post/1245408

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