Quit Claim while Married, No Mortgage.

[Psalm61:3]

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

Living in Arkansas. Home is paid for, i.e., no mortgage or note on it, is 'free & clear." No children or heirs. Both of us listed on title to property. We understand that marital status is important on QC deed. So, what is proper wording while married for one spouse to QC to the other? Also, when both are listed as owners, do both quitclaim to the one? Thank you very much.

 

[justalayman]

what are you trying to do? Even if you transfer your current interest in the property, you cannot transfer a future interest. If you remain married, any appreciation in the property then becomes an asset of the marriage and as such, interest in the property for each party.

Arkansas also still has dower and curtesy rights. Again, this is a future interest that cannot be released while married.

 

[Psalm61:3]

what are you trying to do? Even if you transfer your current interest in the property, you cannot transfer a future interest. If you remain married, any appreciation in the property then becomes an asset of the marriage and as such, interest in the property for each party.

Arkansas also still has dower and curtesy rights. Again, this is a future interest that cannot be released while married.

We are separated, civil, anticipating divorce and dividing property ourselves before the fact. Both would prefer to do the QC before the divorce, or Spousal Transfer, or what? All interest current & future to belong to spouse residing in the house. So what is correct way to write it? Thanks again.

 

[Samehere]

I Read that....

I read that when you do a quit claim deed BEFORE you are divorced, it will show on the new deed as "John Doe, Married Man". Because you are still married at the time. So it might present possible problems in the future.
I found another article where a husband transfered property into a wife's "Revocable Living Trust", to prevent liablitiy from business lawsuits, and the wife should be able to keep it if a divorce arises.
see: Robert J. Mintz website, look under "Unequal Division of Property" on his website (on left side) or google "Unequal Division of Property".
Upon further reading, the RLT might not hold up either.
I think an easier option might be a "post nuptial agreement", I'm going to look into that.
What did you do?