Buying property married

[Chris Wade]

I saw someone ask can you buy property and title it separately if your married. I am not a lawyer and I am not giving legal advice. From my experience I have seen people buy, and finance property in a revocable living trust. Also I have seen married people buy property individually in a revocable trust, irrevocable trust, or an LLC without their spouses consent. And be able to sell their property without their spouses consent. I have seen married people finance property in a revocable trust even if they have a joint tax return. From my experience title companies in community property states require the spouse to sign away their interest using a quitclaim deed if the property is in their personal name. They will need their spouses consent to close and sell if it's in your personal name. The first step is form your individual revocable trust, irrevocable trust or LLC, then put the purchase and sale agreement into revocable trust or irrevocable trust or LLC then you close on the property in that name. It can be challenging to get a loan in a trust or LLC. I have seen it done in a revocable trust which has more flexibility because it's amenable. It's hard to amend an irrevocable trust and their maybe problems with allowing it to barrow. LLCs are easy to amend. The spouse can still claim a interest in the property. All property and assets inherited before, duriing, and after marriage is seperate property. All property owned before marriage is seperate property. I found it is easiest if a spouse has their own revocable living trust and a prenup. At very least their own revocable living trust with all property, bank accounts, and vehicles title in it. And a the great thing is the revocable trust is easy to amend and you can also make it irrevocable.

also both spouses can have their own revocable living trust and revocable living trust together and put their kids trust into them. It's good to know this stuff for blended families.