heartbrokenmommy
recently joined
Reged: 03/08/05
Posts: 4
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I am currently married but working through my husband's infidelity. He says he is committed to staying with me and our children. But I am still paranoid and want to plan for either scenario. Husband is buying real estate with a friend as a partnership. The title will be in just their names. I am suppose to sign the quitclaim deed for the property tomorrow at the escrow office. I am very uncomfortable doing this as I don't know if I will be completely screwed if we end up getting divorced. Investment is worth about 750k. My husband used $150k of our personal savings as downpayment (friend put down 0). What should I do? Should I insist my husband sign our house over to me, if I give him a quitclaim deed to the new investment property? Equity in house is about 500k. Help, I am feeling very pressured.
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aussie928
old hand
Reged: 10/29/04
Posts: 969
Loc: Dallas
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G'day luv...what state are you in? I am confused a wee bit...you say your husband and a friend are buying this together..but luv your name must already be on this property in order for him to request that you have your name removed as that is what a quitclaim does. My string advise,....do NOT do this with out speaking to an attorney. This can always be done later. Please keep me posted. I do not know luv..but based on the story you ahe given he may be trying to "position: himself. SIGN NOTHING
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joan
enthusiast
Reged: 09/24/04
Posts: 248
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I live in Illinois and was requested by the ex to sign a quick claim dead while we were separated on the house he was buying. It was a new house to him, but in Illinois, if you are married, both parties are assumed to own the property. I would NOT sign the paperwork. You can always sign it later, as I had the ex do on our house.
On his house, I did sign it after my attorney drew up paperwork that he also signed that detailed his house would still be considered a marital asset. That way he can still take out a mortgage in his name and dead the house in his name, but it is still marital property.
Good Luck.
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aussie928
old hand
Reged: 10/29/04
Posts: 969
Loc: Dallas
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I understand what you are saying Joan..as this is required in Texas as well. The concern I have here...is this is property he is buying with a PARTNER..and says he doesnt want a divorce. This should be raising serious enough flags to have an attorney involved prior to signing.
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xmen
recently joined
Reged: 03/01/05
Posts: 18
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Sounds like the 150K is both your money. I wouldn't sign anything. Sounds like he might be positioning himself. I would consult an attorney or Think hard about your Future relationship. If anything the money belongs to both of you and you have the right to have your name on the title. I live in Illinois.
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heartbrokenmommy
recently joined
Reged: 03/08/05
Posts: 4
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Thanks so much to everyone for your advice and support. We live in California. I told my husband I wouldn't sign anything. He was angry at first and saying I didn't trust him and being petty. He said he was just going to cancel the whole deal. Then he had a change of heart, apologized for being such jerk, and had escrow redraw all the necessary docs to add me to the title. Now his partner's wife will be on the property with her husband, too. She had already signed their paperwork giving away all her rights to the property (and this is her 2nd marriage- some people never learn). She owes me one!. Thanks again!
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Mia
recently joined
Reged: 03/01/05
Posts: 22
Loc: TX
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I am so glad that you did not sign anything. I work for a mortgage co and you did the right thing. Congrats to you. I agree with the rest of the posts in that you should reconsider this relationship.
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