Buying Property Without Spouse
REM # A661
By Ilyce R. Glink
Summary: A reader wants to know if he can purchase his current residence, a rental property, without his spouse. Ilyce thinks the deal is possible but questions the reader's motivation.
Q: Can a spouse purchase the rental property from the owner that both are living
in, both on the lease, without the other spouse?
A: The short answer is yes, you can purchase property by yourself. The bigger question is why one spouse wants to purchase the property and the other one does not. Just like buying other items on a day to day basis or even a car, one spouse, if he or she has the credit and money, can buy these items without the other spouses consent.
When you buy real estate, in some situations, lenders and title companies may require a spouse’s signature to mortgage documents.
But be aware that just because the house is titled in one name doesn't mean
the other spouse doesn't have a right to that property. Many states give a spouse
a right to property purchased during the marriage and if the parties file for
divorce, the spouse that does not own the real estate may have a claim of ownership
to a part of the property.
For more details, please consult your real estate attorney.
NOTE: This column is distributed by Real Estate Matters Syndicate, PO Box 366, Glencoe, Illinois, 60022. This column may not be resold, reprinted, resyndicated or redistributed without written permission from the publisher.
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