Saturday, April 25, 2015

I am about to be married. I own a house with a mortgage that we will be living in once we are married. The title mortgage will remain in m...

Question

I am about to be married. I own a house with a mortgage that we will be living in once we are married. The title & mortgage will remain in my name, however my spouse will be paying 1/2 of the mortgage, 1/2 the utilities/water/internet. If a divorce happens will I have to split the house? Thanks! (State of Arizona)



Answer

Thankyou for your inquiry. Shared payment of the utilities/water/internet has nothing to do with the ownership of the home itself. Generally speaking, the house itself remains your sole and separate property after marriage (unless you add your spouse to the deed); however, the use of "community" income could mean that your spouse might have a claim to some kind of reimbursement or share of the house in the event of the divorce. There is not a black-and-white answer to this question unless you and your spouse decide to execute a prenuptial agreement to address your understanding (e.g. specifying whether there WILL or WILL NOT be some type of reimbursement/etc. in the event of a divorce). I recommend that you speak with an attorney as soon as possible to discuss this issue in greater detail and determine whether a prenup is appropriate or whether you are comfortable with an understanding of what the outcome is likely to be without a prenup.



Answer

As you contribute community funds to the house, it will create a monetary interest that your spouse could pursue in the event of a divorce. BUT it would not, in and of itself, give him/her an ownership right.

You could also address these issues in advance through a premarital agreement.

One of our attorneys can explain the issues and procedures better in person. As you can imagine, there is too much to cover via email. We offer free 1/2 hour consultations, in which we can discuss your matter in detail.

Please call us directly to discuss the specifics of your matter, or contact my assistant Paige or my paralegal Jennifer to schedule your free 1/2 hour consultation.

/s/Rich J. Peters

Attorney at Law

1422 N. 2nd Street Suite 100

Phoenix, Arizona 85004

(602)254-7251

Fax (602)254-1229

www.familylawaz.com



No comments:

Post a Comment