Q: Common law married couple, wants to make it legally binding wife receives all proceeds from sale of home
Common law couple wants to sell their home they will be making about $450,000 on the home after mortgage is paid off, etc. They were going to split it down the middle however judgment has been set against the Husband. Is there anyway to make it legally binding that when the home is sold the wife receives all the proceeds? they are both on title. The judgment is only against the Husband.
A:
You need to act fast.
If the judgment is over $10k, but has not yet been filed, and past the appeal time, you can have him sell to her, or create a separate property regime.
Come see a lawyer like myself, or another experienced real estate attorney on Justia, immediately. There is a lot more to tell you for legal guidance, but you do not want it published.
Move fast!
A: If the home was occupied by the couple and declared as their homestead, the home and the proceeds from the sale of the home are exempt from the claims of creditors anyway. Just be sure not to commingle the proceeds with any other joint management community property funds or with any of the husband's sole management community property or separate property funds.
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