Divorce And Trusts?
I have the opportunity to buy a great investment property. I've ran all the numbers and got the financing. They are pushing for a closing date. Unfortunately, my wife has lowered the boom that she wants a divorce. I hate to pass up this opportunity, but I am not going to turn around and resell this property to split it with her. My question is: If I purchase the prop and immediately assign it to a land trust, can I keep her from getting it because I no longer own it? I asked the finance co. about buying it directly into a trust. They said that I would have to do that after the closing. Any advice?
[addsig]
Hmm, interesting, if you get it under option you havent actually purchased it, so I guess you could get the option , assign it to XYZ trust .
I would think it's the same most places, but Iknow where Im from, whatever you've bought 'during' the marriage is subject to a split betweenthe 2 parties.
Call an attorney, or email to get some free legal advice first
good luck!.