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Deed Names

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norealestate

Junior Member
What is the name of your state (only U.S. law)? Wisconsin
Parents gifted farm to me 30 years ago with only my name on deed.
My spouse and I farm together and all assets are comingled. Either if her name is on or off of deed according to Wisconsin law the farm is jointly owned and I see no legal reasons for adding her name. Does my logic make sense?
 


anteater

Senior Member
I'm not in WI, but my fallible memory is that WI only became a community property state in the mid-80's and property acquired before that retains its character prior to the changes in the law. I have to pass on the question of whether the asset would now be considered commingled in WI.

Be that as it may.... My question would be: why not do it and erase any ambiguity?
 

LdiJ

Senior Member
What is the name of your state (only U.S. law)? Wisconsin
Parents gifted farm to me 30 years ago with only my name on deed.
My spouse and I farm together and all assets are comingled. Either if her name is on or off of deed according to Wisconsin law the farm is jointly owned and I see no legal reasons for adding her name. Does my logic make sense?
It depends. If her name was on the deed and something happened to you, then the property would pass to her directly, without having to go through probate.

However, if her name is not on the deed it would have to go through probate and she might not be entitled to the entire property.

Also, don't be so sure that the property is equally hers at this point. A gift is normally separate property and therefore only the increase in value since you married would be marital property. If you also were married 30 years ago then its likely that the value of the property is mostly marital, but that's not certain.
 

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