I know this can't be done without an attorney .
2007-07-01 05:28:59 · 19 answers · asked by ThanksJustWondering 2 in Family & Relationships ➔ Marriage & Divorce
I have heard that some men do that before a divorce so that he can completely walk away from the financial resposibility of the property, and claim that it was her house alone. Especially in situations where the husband may have to pay spousal support based on his assets, he may want to find ways to lessen the blow... but I am not a lawyerr, this is just a situation that I have heard about before.
2007-07-01 05:33:56 · answer #1 · answered by Tevra J 2 · 0⤊ 0⤋
Of course this can be done without an attorney. People!!!! Get your heads out of your butts and quit trying to litigate everything!
A man or a woman can take his name off of ownership of the house but simply refinancing. One of the reasons may be divorce but another common reason may be credit. A credit score can be totally different for each partner even though they are married.
Sometimes it is prudent to refinance only in one of the names if the credit is much better with that one.
When both partners have excellent credit, both names should always be put on the documents.
Lawyers and Insurance agents are killing this country with constant litigation and Index annuities.
2007-07-01 05:38:48 · answer #2 · answered by Mike Ologee 2 · 0⤊ 0⤋
If he lives in a community property state it really won't matter. There are times when moving the "ownership of assets" to the partners name only is a benefit when dealing with social security and medicare/medicaid qualifications. It is also a way to decrease your debt to income ratio to qualify for a lower interest loan for a second home. Thus making each person's primary residence in different homes.
2007-07-01 05:42:01 · answer #3 · answered by kegparty 1 · 0⤊ 0⤋
Is money owed on the house? If so, then I doubt it can be done. However, a good reason would be to hide assets from somebody. More information would be needed for anyone to actually form a logical opinion.
2007-07-01 05:47:13 · answer #4 · answered by pappysgotitgoinon 5 · 0⤊ 0⤋
Two reasons:
1) He wants to protect the assets and by putting it all in the wife's name, it is safe if anything befalls him.
2) He is getting ready to flee
2007-07-01 05:42:02 · answer #5 · answered by Experto Credo 7 · 0⤊ 0⤋
That is an interesting question. I am not sure why a man would do such a thing. Maybe to avoid a tax issue, perhaps his finances are in trouble, who knows. If your concerned why not ask the man who is choosing to do this?
2007-07-01 05:31:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If they are still married, then even if something happens to her, he will be responsible for the house. However, he may have intentionally done that so that she could leave a will and designate another person to inherit the home.
2007-07-01 05:32:26 · answer #7 · answered by Florida Gal 2 · 0⤊ 0⤋
My husband knew a guy that did this. He put everything in her name. She was racking up more debt than he wanted. When he left her, he told her she could have it all. The house, the cars, the boat, everything. He now lives debt free in a camper no less. I have a feeling she has lots of bills....
2007-07-01 06:05:08 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Most likely he is going to make a move to leave his wife and family and move on and doesn't want the bill over his head.
2007-07-01 05:32:57 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Because he is planning on leaving her and wants to get the house out of the divorce complications or the delay of seven years in declaring him missing.
2007-07-01 05:31:24 · answer #10 · answered by Mike1942f 7 · 0⤊ 0⤋