Q: My credit is not too good my wife's credit is better we are buying a new house . They want me to sign a disclaimer
What does that mean for me in the state of Arizona. In the event of a divorce does that leave me with no Realty real estate rights
A:
When a spouse signs a DISCLAIMER DEED that spouse is giving up any claim or right of ownership to the real estate (home) that is being purchased, i.e. any legal right to the real estate. In cases of divorce the disclaiming spouse may be able to share in any increase in the value of the real estate realized as a result of the efforts of the two spouses' marital community.
It is important to keep in mind, however, that sharing in any increase in the value of the real estate realized as a result of efforts of the marital community may be considerably less than half of the equity in the real estate. And if the court decides that there was no increase in value of the real property as a result of efforts of the marital community, the disclaiming spouse would not be entitled to share in any of the equity of the real property.
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