Germantown, TN asked in Divorce and Real Estate Law for Tennessee

Q: I purchased a family home..How can I protect this investment in the event i get divorced

I am separated and purchased a home in my family for 52 yrs...i would like it to stay in MY family.....how can I ensure that he doesnt have rights to it if something should happen to me

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2 Lawyer Answers
Anthony M. Avery
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Answered
  • Knoxville, TN
  • Licensed in Tennessee

A: There are numerous conveyance methods to keep the improved real property in your Family's ownership. You did not give enough information about your Family members or exactly who you wanted to have the property at your death. Of course should others have an interest in the property, present or future, they must also convey their interests in the event you sell it. A Life Estate/ Remainder Deed or even a Class Gift might work well for you. You need a competent attorney who can draft such a future interest deed and knows something about asset protection. Do not use a Title Company.

Anthony M. Avery
PREMIUM
Anthony M. Avery pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
Answered
  • Knoxville, TN
  • Licensed in Tennessee

A: There are numerous conveyance methods to keep the improved real property in your Family's ownership. You did not give enough information about your Family members or exactly who you wanted to have the property at your death. Of course should others have an interest in the property, present or future, they must also convey their interests in the event you sell it. A Life Estate/ Remainder Deed or even a Class Gift might work well for you. You need a competent attorney who can draft such a future interest deed and knows something about asset protection. Do not use a Title Company, real estate agent, or draft it yourself. A title search would probably help, but your attorney does not need to be local. Also do not get into a domestic violence situation where the Husband could push you out of your own home.

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