Legal Question in Real Estate Law in Alaska

My brother and I would like to purchase a duplex together. He is single and I am married. How can we insulate this partnerships from my spouse. My brother is afraid that if something unforeseen happens down the road i.e. with my husband that he would be entitled to our duplex asset. Would the Homestead waiver work?


Asked on 7/05/10, 9:07 pm

1 Answer from Attorneys

Terrence Thorgaard Thorgaard Law Firm

By "something unforeseen", I assume you mean a divorce, or perhaps your death resulting in your husband inheriting an interest in the duplex.

If you are refering to the homestead exemption, no. It has nothing to do with protecting assets from an ex-spouse.

Two possible solutions come to mind:

1. a nuptual agreement by which you and your husband agree with your brother that the husband has no legal interest in the duplex, or in the partnership which you have formed to own and manage the duplex. You should further agree that your interest in the partnership and the duplex are to be exempt from any legal process which may, at any time, be instituted by your husband.

2. set up a trust providing that you are entitled to a share in the profits, proceeds, etc., but specifically excludng your husband, or you in the event of a divorce or dissolution.

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Answered on 7/06/10, 10:24 am


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