What is the name of your state? North Carolina
I am buying a commercial property in NC but I am a resident in Virginia and I am currently living in NC with relatives. I have not yet signed seperation papers and was told that I should not put this property in my name. So I would need the deed to be in someone else's name and since it is seller financing I can do that part in my name and be ok. No one else wants the deed in their name except my sister who has recently filed for personal bankruptcy. I was advised not to put in her name due to the rocky finanacial state she is in. Would I be ok to go ahead and title in my name? The divorce would go through before I ever plan to sell it anyway. I do plant o live in the property as well and my wife is not going to have to sign the contract on this property. I thought about deeding it to one of our sons that is 17 but I wasn't sure how that would hurt or benefit him.
Thanks for any help with this matter.
I am buying a commercial property in NC but I am a resident in Virginia and I am currently living in NC with relatives. I have not yet signed seperation papers and was told that I should not put this property in my name. So I would need the deed to be in someone else's name and since it is seller financing I can do that part in my name and be ok. No one else wants the deed in their name except my sister who has recently filed for personal bankruptcy. I was advised not to put in her name due to the rocky finanacial state she is in. Would I be ok to go ahead and title in my name? The divorce would go through before I ever plan to sell it anyway. I do plant o live in the property as well and my wife is not going to have to sign the contract on this property. I thought about deeding it to one of our sons that is 17 but I wasn't sure how that would hurt or benefit him.
Thanks for any help with this matter.