Legal Question in Real Estate Law in New Jersey
I have no mortgage on my home. Can I sell half of my house to my fianc� so we both have ownership?
3 Answers from Attorneys
Yes. BUT:
If either of you is a senior or as a disability or medical condition that may in the future require medicaid or nursing home care, consult with an Elder Law attorney before you change ownership.
You should also review your estate plans with an estates lawyer to make sure that this is a good move for you.
THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.
* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.
* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.
Yes you can. Contact my office as there are several ways to do this.
You can but I question whether it is a good idea. Check out the other Q&A's here and you will likely find that most questions that begin "my girlfriend" or "my boyfriend" usually have an unhappy answer. There are many reasons for not giving large gifts, particularly realty, to a friend. Among them are (1) the tax consequences; (2) the difficulties when there is a breakup; (3) the treatment of the property if there is an eventual marriage and divorce. There is no legal reason why your spouse needs to have an ownership interest in your residence but there are some advantages to it if the property is acquired //after// you are married. So, my experience is that you should wait until you are actually married if you do want to do anything about ownership.
See also: http://info.corbettlaw.net/lawguru.htm