Legal Question in Family Law in California
To clarify my question:
I have just married in California and reside in California. My spouse would like me to sign a quit claim for the properties he owned previous to our marriage which is fine with me. I would like to purchase some investment rental properties with my own money (through an LLC I will form).
I understand that if I invest in properties with my own funds they are considered separate property (I need to be sure not to co-mingle or transmute funds), but the increase in value and rental income from those may not be protected and that is what I would be would like to also protect if divorce ever occurs.
I wanted to use a quit claim but the properties will be purchased in the future at varies times,so I assume this is not possible to draw up a quit claim for properties I have not yet purchased?
Would a post-nup be the only solution in this case or is there another way?
2 Answers from Attorneys
I'd do a post-nup to keep everything clean.
A post-nuptial agreement is a useful tool in this case.
As for the quit claim, be sure you understand why your new husband is trying to give you part ownership in the property(ies). Even so, if there mortgages on the property, your name will not likely be included on the loans.
If you have separate money and purchase properties, you will need to be careful to keep the rents and debts separate. Simply stated, this should keep the properties your separate property in the event of divorce.
Contact a local family law attorney for assistance.
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