if a house is left in my name
i've been married 15 yrs, my parents want to put their house in my name so the state can't touch it if something happens to them. if i got a divorce could my wife get compensation out of what the house is worth even though my parents are still living in it? i also have three siblings, if my parents passed and the house was left to the three of us and i later got a divorce could she get compensation from what the house is worth for my part of the home?
1 Answer from Attorneys
Re: if a house is left in my name
The house should be put into a life estate, which means they would have rights to occupy the house until such time as they are deceased. The house could be put in all 3 siblings names or just yours and the transaction be stated as inheritance. The wife would have no rights to your inheritance