Rental property bought under her name during marriage coming from my bank account

[ecmst12]

How about this one - ASK YOUR LAWYER what will happen if you buy the property now. He is in the best position to advise you on what a bad idea it is.

 

[narf]

yes I do know it's not the best idea to buy it now... However I'm in a situation that I have to do it because of other things that I need to accomplish in my life.


So given the fact that it is going to be purchased regardless...

I just want to confirm that the best way to do it would be to have my dad "gift it to me"

According to what you actually said in another post.. that the money would be safe...


ecmst12
There might be rare circumstances where a married person could have pre-marital assets or an inheritance or gift which they kept separate from community property which they could use to purchase something which would also be separate property (provided that marital income wasn't used to maintain said acquisition), but there is no indication that such circumstances exist here.



also what latigo said
Property received by gift, devise or in exchange for separate property is not characterized as community or jointly owned property.



So now my question would be what would be the best way to go about and tying up any loose ends... on the check that my dad would give me.. what should it say?
Gift? Gift for property? Should it say anything on it at all? Would it be better if it said "loan for property"? Should it be made out to me or my LLC?

Thank you again for your advice and different viewpoints.

 

[Zigner]

yes I do know it's not the best idea to buy it now... However I'm in a situation that I have to do it because of other things that I need to accomplish in my life.


So given the fact that it is going to be purchased regardless...

Given the fact that it's idiocy - there's nothing more to say.

 

[ecmst12]

You fail to understand the definition of a gift that would be considered separate property. Something purchased with YOUR MONEY, which you earned during your marriage, is not going to fall under that definition no matter who's name it was purchased under or how many times the title is transferred. And attempting a stunt like this is going to end up getting you nabbed for fraud and attempting to hide assets. Doing THAT is going to make the judge deal with you a heck of a lot more harshly when he makes his final ruling. Again, I urge you to have your lawyer explain to you EXPLICITLY why you should not do this, and why there is no legal way to hide assets subject to division as community property.

If you are insisting on buying this property, just accept the fact that your wife will be entitled to half.