Legal Question in Real Estate Law in Michigan
real estate
We live in Michigan. My husband and I are investing in a piece of property to rent out. He seems to not to want to put my name on the house, but he is using our money to buy it. How can I protect myself in case we are ever divorced? And, is this property legally mine too if my name is not on it the deed? The house will be completely paid off when we close in 30 days. He is using the money from our savings account and our equity liine of credit.
2 Answers from Attorneys
Re: real estate
Technically it is considered a marital asset, even if you name is not on the deed or mortgage, especially since he is using marital funds to purchase the house. It is odd that he doesn't want your name on it - unless there is a financing or credit reason for it.
If he is using your money for a portion of the house, then ask him why your name can't be on there?
Seems weird......
Re: real estate
Even if your name is not on the deed, he will not be able to sell or transfer the property without your signature. But, why is this even an issue? Stand up for yourself and tell him your name must be on the deed or no deal. This sounds strange to me.
Even if your name is not on the deed, he will not be able to sell or transfer the property without your signature.
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