we have two property in California, one of them have large equality in it. both house are purchase during our marriage... recently my wife want to refinance both these two house for lower rate mortgage .. however do to few unclear debt i have in my name .. my wife want to remove my name from title .. will it create problem for me or consider this her own property in court in the event we divorce or she refuse add my name back after refinance..
second ,, what do i need to do to protect myself ..
Family Law Attorney
Yes, it could create a problem. If you deed the property over to her, it will likely be considered a transmutation from community property to your wife's separate property. If you must get the properties refinanced and your wife promises and agrees to add you back to title as a joint tenant as soon as the refinancing is completed, make sure that you get her promise/agreement in writing signed by her - even get it acknowledged by a notary public so that she can't successfully claim that the signature isn't hers, and save that promise/agreement. There is a recent appellate case where the court treated similar property as community property where the promising spouse failed to add the other spouse back on title - but you are taking a risk by transmuting the community property to your wife's separate property, so you would be wise to consult with an experienced Family Law Attorney in advance of any such transaction.
Please note that this answer does not constitute legal advice, and should not be relied on, as each situation is fact specific, and it is not possible to evaluate a legal problem without a comprehensive consultation and review of all the facts and court pleadings filed in the case. This answer does not create an attorney-client relationship.
Property acquired during marriage is presumed community property. By refinancing and removing your name from title, the presumption is challenged or potentially rebutted.
The answers on this discussion board are general in nature and NOT intended as legal advice. Responding to questions does not constitute an attorney-client relationship. Always see a lawyer about your individual situation.
What you need to do is get an experienced divorce lawyer in your area before you do anything else, do not sign any documents until you have a consultation before you have an attorney assist you.
If this answer is helpful, then please mark the helpful button. If this is the best answer, then please indicate it. Thanks. For further information you should see an attorney and discuss the matter completely. If you are in the New York City area, then you can reach me during normal business hours at 718 329 9500 or www.mynewyorkcitylawyer.com.