Expert: Dick Dennis - 1/20/2010

Question
A couple gets married in Florida.  One of the spouses buys a home for cash with their life savings.  It is agreed upon that since said spouse bought the home it will go into her revocable trust in her and her kids names only.  The other spouse signs a release of deed.  Years later they are getting divorced and the non-purchasing spouse wants to go to court to get half the home.  Is this possible?

Answer
As long as the home was purchased ALL CASH, Steve, it would seem that the husband would not have a chance on getting any interest in the property. HOWEVER, if the husband's income was used to maintain the property and/or pay property taxes and insurance, he might indeed have a shot at it, especially if both incomes were commingled. As long as the husband can show proof of this, he might indeed get an interest in the property. This is more of a situation for a REAL ESTATE attorney more than a real estate broker, Steve. It should be presented to either the real estate attorney or the divorce attorneys involved in the picture. There might be other extenuating circumstances, too. I do wish you well.

Dick Dennis
dixiedee13@aol.com