Legal Question in Real Estate Law in Nevada

property

I have been paying on my house for 12 years in nevada if I was to get married would that give my wife part ownership even if all payments are only from me?


Asked on 3/05/08, 12:38 pm

2 Answers from Attorneys

Adam Breeden Breeden & Herbe, Ltd.

Re: property

There is a complex Nevada Supreme Court case on this called Malmquist v. Malmquist. Basically, after you are married, all your income from wages becomes community property. Therefore, if you make the mortgage payments with this community property, your wife could have an interest in the home. The longer you are married and the more payments you make with community funds, the bigger her interest would be. You could avoid this by having a prenuptial agreement done or by paying the mortgage with separate funds (like a bank account you had prior to marriage and did not co-mingle funds with).

Read more
Answered on 3/05/08, 12:44 pm
James Smith James E. Smith Ltd.

Re: property

You would get credit for the equity you had in the property at the time of the marriage. Any increase after that would be half hers.

Read more
Answered on 3/05/08, 12:57 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Nevada