Need answer on divorce question

[kathyvan]

What is the name of your state (only U.S. law)? ARIZONA

My husband purchased property prior to our marriage. We have NO prenumps. Is this property that I am living on considered his, or is it community property?

Thank you!

Kathy

 

[Ohiogal]

What is the name of your state (only U.S. law)? ARIZONA

My husband purchased property prior to our marriage. We have NO prenumps. Is this property that I am living on considered his, or is it community property?

Thank you!

Kathy

Could be his. Could partially be marital. Was it paid in full before the marriage? Whose name is on title? Is there a mortgage on the property? Is there any equity?

 

[kathyvan]

thank you

First thank you!

Let me clearify.. the property was purchased by my husband prior to our marriage. After we married we agreed and put this in a trust with both of our names on it. This and other items are mentioned in the trust. On the trust papers, it states ''community property''

Is this true?

Thanks, hope i have clearified.

Kathyvan

 

[LdiJ]

First thank you!

Let me clearify.. the property was purchased by my husband prior to our marriage. After we married we agreed and put this in a trust with both of our names on it. This and other items are mentioned in the trust. On the trust papers, it states ''community property''

Is this true?

Thanks, hope i have clearified.

Kathyvan

You are going to have to get a consult with a local attorney who can actually read through the trust. The fact that the property is held by a trust makes the situation more complicated than what could be answered by anyone who cannot read through the trust.

 

[mistoffolees]

First thank you!

Let me clearify.. the property was purchased by my husband prior to our marriage. After we married we agreed and put this in a trust with both of our names on it. This and other items are mentioned in the trust. On the trust papers, it states ''community property''

Is this true?

Thanks, hope i have clearified.

Kathyvan

If you put it in a trust with both of your names on it ant the trust labels it community property, then it's no longer separate property. That much is certain.

There is still not enough information to know if you'd get anything from it in the event of a divorce. For example, if it's an irrevocable trust with certain conditions, it's likely that NEITHER of you can take any equity or value out of the house.