how to sell (by Arron [MA]) Mar 19, 2023 7:39 AM|
how to sell (by myob [GA]) Mar 19, 2023 8:36 AM
how to sell (by Arron [MA]) Mar 19, 2023 9:02 AM
how to sell (by myob [GA]) Mar 19, 2023 9:09 AM
how to sell (by FloridaNative [FL]) Mar 19, 2023 9:24 AM
how to sell (by Larry [MN]) Mar 19, 2023 11:26 AM
how to sell (by Jim in O C [CA]) Mar 19, 2023 12:06 PM
how to sell (by Arron [MA]) Mar 19, 2023 1:18 PM
how to sell (by Larry [MN]) Mar 19, 2023 1:57 PM
how to sell (by Vee [OH]) Mar 19, 2023 2:40 PM
how to sell (by BRAD 20,000 [IN]) Mar 19, 2023 4:50 PM
how to sell (by plenty [MO]) Mar 19, 2023 4:57 PM
how to sell (by Don [PA]) Mar 19, 2023 7:50 PM
how to sell (by Mapleaf18 [NY]) Mar 19, 2023 8:17 PM
how to sell (by Ray-N-Pa [PA]) Mar 19, 2023 10:06 PM
how to sell (by Johnny B. [MA]) Mar 21, 2023 2:36 AM
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how to sell (by Arron [MA]) Posted on: Mar 19, 2023 7:39 AM
I put my wife's name on my 6 building about 2 years ago after being together for 20 years. She has her own well paid career and has never been involved in any building in any way.. Thought it was a good idea at the time to put her name on them in case I died.
However we are no longer together but not hostile to each other. She lives several states away and doesn't travel back here.
I am having my own health problems and cannot manage them or maintain them like before.Also have lost my main guy to his health issues who also does that.
Any suggestions on how to proceed? I don't think she would travel back here and I don't think she will try to make a claim on the assets of the buildings. Can she sign something with notarising it to allow me to sell? --66.30.xx.xxx
how to sell (by myob [GA]) Posted on: Mar 19, 2023 8:36 AM
I can think of 2 things. Give you power of attorney or quit claim her portion to you.
Don't think she will make any claim?? yeah right. until she talks to a friend or relative or ATTORNEY. Good luck. --108.239.xx.xx
how to sell (by Arron [MA]) Posted on: Mar 19, 2023 9:02 AM
I've never sold any property before. OK if she does not object, is a quit claim or power of attorney best for me? --66.30.xx.xxx
how to sell (by myob [GA]) Posted on: Mar 19, 2023 9:09 AM
quit claim give you title back to the property. ITS YOURS.
Power of attorney allows you to decide what to do with the property not necessarily avoid other owners interest. --108.239.xx.xx
how to sell (by FloridaNative [FL]) Posted on: Mar 19, 2023 9:24 AM
If you have a good relationship with her and she will sign a quit claim, that is a good way to do it. Don't prepare the quit claim deed yourself. I regularly see QC's not prepared the right way and it creates a title issue. Have a title co or an attorney prepare it and have her sign.
Living in another state is no impediment to selling. "Mail away" closings are routinely handled by closing attorney's and title company's without any of the parties having to travel to sign. Now there are even RON closings (Remote Online Notary) --73.205.xxx.xx
how to sell (by Larry [MN]) Posted on: Mar 19, 2023 11:26 AM
I assume you are still married. Why are you not proceeding with a divorce? This building is community property regardless of who's name is on the deed. Granted every state is a bit different but I'm sure MA is no-fault divorce, community property state.
You need a divorce attorney. Even if you don't proceed with a divorce, a divorce attorney is an expert at division of assets. They deal with it every day. I'd be surprised if your wife is willing to give up her half of the equity in this building but maybe she is.
The more I think about this the more you need to get a divorce. Even if she agrees to let you sell the building and keep the proceeds she can later file for divorce and claim half the proceeds. You need to be free of her in order to have a predictable future. --68.46.xx.xxx
how to sell (by Jim in O C [CA]) Posted on: Mar 19, 2023 12:06 PM
Lawyer time to be everything is legal. --146.70.xxx.xx
how to sell (by Arron [MA]) Posted on: Mar 19, 2023 1:18 PM
To expand a bit,we have been living together for over 30 years, married for about 20. Only a few years ago I put her on the property,
BTW over those 30 years,..we agreed on most but didn't agree on everything,but all during that time, we never had an argument.
I was married before ,probably why I was not keen to marry again as I don't think we could go for 2-3 days without a big argument, She also didn't push it.
So what happened lately? she had to have a major operation,..came out of it a different person, maybe from the trauma of facing possible death, or maybe throwing a clot in her brain, a different personally. From being very warm and LOTS of love notes and cards,..to being rt after very distant.So she took a promotion far from this home.
She does have assets in 1/2 of this house of 600,00 total.that I'm now living in, but I greatly doubt she ever plans to come back to live with me, she is friendly to a point, but not really loving. Again this is VERY different post operation.
Again,..the other properties only 2 years on the deed,..no money,physical work, or management ever in those properties, I think she probably will feel that she will for sure want to retain, secure 1/2 of this house. and perhaps the lawyer can arrange that, but again, who knows what she might want,..we haven't discussed it.
She has a large 401 and retirement monies plus a good pay check form the very secure University job and we never had to co mingle our monies. so I don't know what that means for our futures, --66.30.xx.xxx
how to sell (by Larry [MN]) Posted on: Mar 19, 2023 1:57 PM
Get a divorce attorney. You likely have a claim against her 401K and even her income if there's a large disparity. Draft a settlement where you agree to not file a claim against her finances in exchange for you to retain sole title in your properties. Be nice about it of course and make it fair. Then see what she comes back with. Attorney's can handle all the communication. I'd give her a heads up though. Don't surprise her. --68.46.xx.xxx
how to sell (by Vee [OH]) Posted on: Mar 19, 2023 2:40 PM
If you had sold the property before putting her name on the deed you would have simply divided the sale assets equally as in death or divorce, what is the question? --76.190.xxx.xxx
how to sell (by BRAD 20,000 [IN]) Posted on: Mar 19, 2023 4:50 PM
Attorney for sure. ASSUME she will consult an atty who will tell her to KEEP IT.
I would politely ask her to sign a quit claim deed. "I have done all the work all these years." If she does you are golden!
Who has been getting the profit from the building in HER name?
Does the building have any value?
how to sell (by plenty [MO]) Posted on: Mar 19, 2023 4:57 PM
A speration agreement may be the terms needed. --172.59.xxx.xxx
how to sell (by Don [PA]) Posted on: Mar 19, 2023 7:50 PM
You "put her name on the deed." That means you made her a part owner. SHe either has to quit claim off of the property, or, you sell it together. In the latter case, the title company will make the check out to both of you. She'll have to endorse it over for you to deposit.
So often I hear "I put my son/brother/friend on the deed, how do I get them off." Uh, you gave them ownership and now they have to be willing and able to give it back to you. --73.141.xxx.xxx
how to sell (by Mapleaf18 [NY]) Posted on: Mar 19, 2023 8:17 PM
Another vote for what Larry said. --64.246.xxx.xx
how to sell (by Ray-N-Pa [PA]) Posted on: Mar 19, 2023 10:06 PM
How long someone has owned something or what they have done as an owner means nothing.
If the two of you can agree to peel that off together then you just need a plan on how to split the asset up.
Both of you should consult attorney's, but understand that they are in the business of collecting the most money by emptying up assets that should be split between the two of you. Cooperation between the two of you is the best strategy. That isn't always the easiest path.
If you want, I will get you the "Been There Done That" ball cap. The more the two of you can agree upon, the better for the two of you. So perhaps that might be a good start for the two of you in dividing things up. As part owner though, she should be entitled to half. I don't make the rules, I only experienced them first hand. --24.101.xxx.xxx
how to sell (by Johnny B. [MA]) Posted on: Mar 21, 2023 2:36 AM
Where in MA is your property? --73.60.xx.xxx
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