consequences of deed of sale

[gamaleo]

What is the name of your state? new york

my husband and i own our house and the lot where it stands. he wants to deed it over to my own name after a nominal payment of 10 dollars. he is saying this is for our protection so that his business creditors cannot go after our house.

he had me sign 2 post nup agt waiving all my rights to his mother's money if he inherits it. now, he wants me to sign this deed of sale. what are the consequences if the house is in my name? what if we divorce?

----- add: post nup basically says i cannot get anything from his mother that goes to him. what is the probabilities if we get a divorce and the propert is in my name?

 

[Ohiogal]

It could be considered a fraudulent conveyance depending on when he expects creditors to come after it. Also if there is a mortgage on it they will call it due immediately upon transfer so hope you have a ton of cash available to pay off the mortgage. As for the post nups -- what EXACTLY do they say? They shouldn't cover this because he would be GIFTING the house to you.