Expert: David McArthur - 3/23/2009

Question
Hi!  I am in the process of a lengthy divorce after being married 15 years.  Although my husband has promised me full equity in the house, that is not on paper at this point.  Meanwhile, I have recently become engaged to be married to my new boyfriend.  He is in the process of purchasing our new home.  In an effort to not damage my credit, and to not "tip-off" my husband that I am selling my home, my boyfriend is putting the new house in his name.  He will close before we are married.  Although I trust my boyfriend and know that his intentions are gold, I am left to worry about the future if our relationship goes south.  Since the house will be in his name AND he will close prior to our marriage, will I have a stake in the equity since the home will not be acquired during our marriage?  I have "fronted" the down payment and closing costs in good faith to our joint checking account.  Let me know if you need additional info.  Thanks!

Answer
The answer to this question rests on whether you live in a community property state.  Look on line to find the community property states and what that means for property owned prior to marriage.  Also, depending on the lender you may be allowed to be on the title without being a cosigner for the mortgage.