Legal Question in Real Estate Law in North Carolina
Sale of Real Estate
I'm interested to know what marital interest in real property my spouse may have in the home we are living in. This is my home, with the deed in my name, and no mortgage existing on the property. I have a copy of the final mortgage check and have recorded the deed in my name at the courthouse. She pays no household operation bills with the exception of house cleaning and ocassionally the monthly lawn service and pest control. We live in North Carolina and a real estate agent has told us that we both must sign to sell the property, no matter how the deed is titled. We are considering selling and I was wondering what portion of the proceeds she may be entitled to?
1 Answer from Attorneys
Re: Sale of Real Estate
You should consult with a domestic attorney about what possible interest she may have in any of the proceeds.
From a real estate perspective the property is yours. The marital interest would only kick in if you died and were still married at the time. Therefore a spouse has to sign the deed because it waives any rights she would have in the property at your death (which includes a life estate in any property you owned during marriage even if it has been sold to someone else). So that is why spouses sign deeds even if the property is only in one spouse's name.
So for example, if you got divorced before you sold the property that is only in your name, then your ex-wife would not have to sign the deed.
- Jeff
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