Am going for final divorce hearing. I am willing to give away two homes to ex-wife, provided my boys are put on title?
2006-08-25 05:03:46 · 12 answers · asked by willybobjohnson 1 in Family & Relationships ➔ Marriage & Divorce
Get the help of a real estate attorney -- I believe you need to set up a Real Property Trust Account that would activate when the children become the age you determine that they should inherit the properties in their own names.
2006-08-25 05:15:57 · answer #1 · answered by sglmom 7 · 0⤊ 0⤋
They can be placed on the title. Just think carefully about the legal ramifications of doing it, though. By having thier names on the deed the property is legally theirs as well, and thus the property can be seized if your kids run into any kind of trouble (like with taxes or a car accident) and get sued.
Most likely, you kids are good kids and won't get into trouble. :) But it's just something to think about. Consider carefully if they can handle the responsibility of being home owners at a young age.
2006-08-25 12:10:38 · answer #2 · answered by LorraineKB 2 · 0⤊ 0⤋
Yes, they can be named on a property deed. Make sure the insurance policy covering the property has there name on it for liability purposes.
2006-08-25 12:11:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes the boys can be put on the title. i know. my dad bought land in MO and put my 11yr old brother on the property. but they cant do or say anything about the land until they are 18yrs old. and after you put the boys on the title, the ex wife can take them off later on. make sure you have their names permanantly on the title until they are 18. then they can descide for themselves if they still want it.
2006-08-25 12:11:22 · answer #4 · answered by All4Christ 4 · 0⤊ 0⤋
You will need to establish a trust for the benefit of the minors, and have the trust on the deed.
2006-08-25 12:07:51 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I think they can be placed on there, but until they are 18 their legal guardian is responsible for the property.
2006-08-25 12:06:30 · answer #6 · answered by not meant to be tamed 3 · 0⤊ 0⤋
No. If the are minor. But you can get to an agreement with the judge so when the come of age the transaction can be done as A.S.A.P.
2006-08-25 12:11:54 · answer #7 · answered by Sex witch 1 · 0⤊ 0⤋
Yea, they can. Just that when they are 18 the house is officially theirs.
2006-08-25 12:07:42 · answer #8 · answered by smexibiotch3 2 · 0⤊ 0⤋
keep the titles in your name, but put them in a trust.. easier to do..
2006-08-25 12:16:53 · answer #9 · answered by Common Sense 5 · 0⤊ 0⤋
i think so.
however, rules differ. so ask ur attorney.
2006-08-25 12:07:18 · answer #10 · answered by hsarora47 4 · 0⤊ 0⤋