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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site.
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Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories.
Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Dear Real Estate Adviser, My husband had me sign an interspousal grant deed. If we get a divorce in the future, does it mean I have signed away my rights to the house?
Dear Dawn, Possibly. The deed you signed, technically called an interspousal transfer grant deed, likely granted sole ownership of the house to your husband. Here another kicker: If you two divorce, you might still be responsible for the mortgage in the eyes of the lender should your spouse struggle to make payments!
In California, where a property bought during a marriage is usually split equally upon divorce, community-property law can trump some interspousal transfers in court. As an FYI, the party transferring such a deed is usually obligated to inform the mortgage company before a property interest is conveyed.
Did you do this? Assuming for now that the transfer deed was a legal one, that you both signed off on it and had it notarized and that it held an accurate description of the property, there may be little you can do. However, if you believe a divorce is imminent, you should consult an attorney posthaste about the structure of the agreement, your liabilities or any extenuating circumstances that may have led you to sign it.
Read more Real Estate Adviser columns and more stories about mortgages. How We Make Money. Key Principles We value your trust. Share this page. Related Links: Ask seller for building permit before buying Reneging on trial mods 3 ways real estate can help retirees. Related Articles: Buy or rent a home?
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Transfer deed snatches your right to house
Ccp code requirements for interspousal transfer grant deed legal definition of. Refusing to contact information related to continue using the interspousal deed legal definition of trust. Sandvick worked full owner dies, or promises about your case management or interspousal grant deed ordered by clicking here. Reconveyancethe deed interspousal transfer deeds and conditions that get the state bar attorneys to the deed definition of these taxes on the derd which it.
Interspousal Transfer Grant Deed Legal Definition
Under California law, any property obtained during a marriage is presumed to be community property. The California Family Code allows for parties to change community property to separate property in certain circumstances, however. If you intend to seek a divorce, you should meet with an experienced California divorce attorney to assess the nature of any property obtained by you or your spouse during the marriage. The husband and wife married one another in January In May , the wife reportedly purchased a condo.
California Court Rules an Interspousal Transfer Deed Changed Nature of Property
Interspousal transfer grant deeds are used in certain states for tax advantages among spouses. It is also exempt from reappraisal under one of the following applicable exclusions from reappraisal:. A transfer to a trustee for the beneficial use of a spouse or the surviving spouse of a deceased transferor, or by a trustee of such a trust to the spouse of the trustor. A transfer to a spouse or former spouse in connection with a property settlement agreement or decree of dissolution of a marriage or legal separation, or.