Buying a house and divorce?

[dimaggio247]

What is the name of your state (only U.S. law)? FL
Hello,my marriage is crumbling and I'm pretty sure sooner or later we'll divorce.The thing is that I just came across a great foreclosure home nearby...my question is how can I avoid splitting the house with my wife in case of divorce?Can I "sell" the house to a relative/friend before the divorce if the mortgage/deed is in my name only?How does that work and what are the pros and cons?I don't know if I can trust my friends that much ..I know I can trust my dad but he's in a foreign country...can I fictitiously "sell" him the house?... and I need to find a way to get the house back after the divorce is final even in case he passes away...what's the best way to do that?Living trust?And will him being in a foreign country affect that in any way?
Thanks!

 

[Ohiogal]

What is the name of your state (only U.S. law)? FL
Hello,my marriage is crumbling and I'm pretty sure sooner or later we'll divorce.The thing is that I just came across a great foreclosure home nearby...my question is how can I avoid splitting the house with my wife in case of divorce?Can I "sell" the house to a relative/friend before the divorce if the mortgage/deed is in my name only?How does that work and what are the pros and cons?I don't know if I can trust my friends that much ..I know I can trust my dad but he's in a foreign country...can I fictitiously "sell" him the house?... and I need to find a way to get the house back after the divorce is final even in case he passes away...what's the best way to do that?Living trust?And will him being in a foreign country affect that in any way?
Thanks!

'
What you are talking about is fraud. You cannot "sell" the house to relative/friend before the divorce. Your wife would have a marital interest. Fictitiously sell? That is a crime. Nice going. Your wife could then be awarded most of the marital property and a judge may award you most of the debt due to your actions. No one is going to help you commit fraud -- at least not on a reputable site.

 

[dimaggio247]

How is trying to keep something that belongs to me and me only a fraud?By "fictitious" I didn't mean forged paperwork or avoiding taxes...it will be a legitimate sale!Is there a law out there that prohibits you from selling your house to a relative or a friend?Please let me know...
BTW here's what I just found on the net:
"Can he sell the house without my knowing about it?

Stacy's Question: I believe my husband is going to file for divorce. I am going on a trip to see my parents, and I suspect he might try to sell our house while I am gone. I am not on the mortgage. We have lived in the house married for 10 yrs. Can he sell this house without my knowledge?

Brette's Answer: If your name is on the deed, he can't sell it without your permission. You might not realize it, but it takes a long time for a sale on a house to go through - weeks. This isn't something he can do overnight. If the house is in his name only and there is no divorce proceeding started, he can sell the house."

So,according to that lawyer from another reputable site I CAN indeed sell the house!And since when selling something that belongs to you is a fraud and a crime?

 

[Ohiogal]

Look again at what you wrote. And quite frankly if you are married, a title agency will want your spouse to release any marital interest in the property before they will insure title.

 

[mistoffolees]

What is the name of your state (only U.S. law)? FL
Hello,my marriage is crumbling and I'm pretty sure sooner or later we'll divorce.The thing is that I just came across a great foreclosure home nearby...my question is how can I avoid splitting the house with my wife in case of divorce?Can I "sell" the house to a relative/friend before the divorce if the mortgage/deed is in my name only?How does that work and what are the pros and cons?I don't know if I can trust my friends that much ..I know I can trust my dad but he's in a foreign country...can I fictitiously "sell" him the house?... and I need to find a way to get the house back after the divorce is final even in case he passes away...what's the best way to do that?Living trust?And will him being in a foreign country affect that in any way?
Thanks!

Wait until you're divorced. Do you think that foreclosed homes are going to suddenly disappear?

Get the divorce as quickly as possible. Meanwhile, if you really have to have this home, work out a deal with the bank to rent it for some period with the option to buy after your divorce is final. Since that is probably better for the bank then letting it sit empty, they may go for it.

 

[LdiJ]

How is trying to keep something that belongs to me and me only a fraud?By "fictitious" I didn't mean forged paperwork or avoiding taxes...it will be a legitimate sale!Is there a law out there that prohibits you from selling your house to a relative or a friend?Please let me know...
BTW here's what I just found on the net:
"Can he sell the house without my knowing about it?

Stacy's Question: I believe my husband is going to file for divorce. I am going on a trip to see my parents, and I suspect he might try to sell our house while I am gone. I am not on the mortgage. We have lived in the house married for 10 yrs. Can he sell this house without my knowledge?

Brette's Answer: If your name is on the deed, he can't sell it without your permission. You might not realize it, but it takes a long time for a sale on a house to go through - weeks. This isn't something he can do overnight. If the house is in his name only and there is no divorce proceeding started, he can sell the house."

So,according to that lawyer from another reputable site I CAN indeed sell the house!And since when selling something that belongs to you is a fraud and a crime?

An ability to sell a property does not change its nature if its marital property. That merely means that the sale of the property must be disclosed and accounted for within the divorce, and that any below market sale would likely be disregarded by a judge...which is what you are considering.

However investment property is valued appropriately. Therefore, if you buy something now, at fair market value, its going to be valued in the divorce at fair market value as well.