Legal Question in Wills and Trusts in Alabama
Transferring Real Estate
My husband and I are building a home on 15 acres which he owned before we were married. If he should die, I would continue to stay in our home, but we are unsure as to the best way to convey the property to me; should we add my name to the deed, or should he leave it to me in his Will (which is how it is at this time). Can you explain this to us, please? Again, any tax advantage at the sale of property is irrelevant...I will not sell property.
Thank you for making your expertise available to us.
1 Answer from Attorneys
Re: Transferring Real Estate
Your husband should consider conveying the subject real estate to you and himself as joint tenants with right of survivorship. Upon his death you would then own the property automatically, in full (by operation of law).
If your husband simply wills you the property (without during his lifetime transferring such real property to you) you will have to probate his will and have the local probate judge authorize the executor of your husband's estate to convey the subject real property to you by deed (executor's deed). Probating a will can be expensive and time-consuming, and is often unnecessary.
You have other options that should be reviewed before you decide to take any step. For example you and your husband might want to create a trust for your real estate. This decision will be based on several factors.
Not to suggest you and your husband might divorce someday but if he currently owns the real estate and both of you contribute to the construction of a resident on this same property then husband will be the lawful, title owner of the real property (which obviously would include the house) after completion of the residence. This doesn't necessarily mean he would receive the real property in a divorce action because it would be marital property (assuming it was used for the common benefit of the marriage). However, it presents arguable points for opposing counsel.
Nothing in this email message should be construed as legal advice. There are many factors that must be considered before any advise is given. If I can be of assistance please feel free to contact me. You now have my email address. My web address is http://www.frickslaw.com.
Sincerely,
Richard L. Fricks