Legal Question in Family Law in Pennsylvania
gift or marital asset?
My husband signed ''Quit Deed Claim'' on our property. My house is under my name only now. It is still considering as a marital asset or as a gift?
Asked on 8/04/08, 8:32 pm
1 Answer from Attorneys
John Davidson
Law Office of John A. Davidson
Re: gift or marital asset?
If you're still married then even though you got the property in your name only your husband has the entireties privilege. Effectively no lender will give you a mortgage on the property nor will a buyer buy your property unless your husband signs a waiver of the privilege.
Makes you wonder what was accomplished by this deed.
If you have any questions feel free to contact me. The initial consultation is free.
{John}
Answered on 8/04/08, 9:02 pm