Video Summary
Does the spouse who Quit claimed the house to the other spouse and him or herself, which was originally purchased by them, retain any rights to it? I’m assuming that this question has to do if they are involved in the divorce proceedings. Whenever, a husband and wife own a piece of property, they get divorced, well then you start with each party receiving a one half interest in the property as tenants in common. However, in a divorce proceeding, the judge is going to make the determination as to who receives the property and whether or not who gets to live there, whether or not it has to be sold, and whether or not they take into consideration that the property was purchased by one spouse prior to the marriage and later transferred into their joint names. If this is not transferred to husband and wife as far as putting it in husband and wife’s name, and it is to two individuals, the presumption is is that the transfer was a gift of the equity, and each party owns a one half interest. So, if there’s what they call a partition action, which requires the property to be sold, the party who purchased the property does not have a special equity for the contribution or what they paid for the house. If you have any questions concerning this, give me a call at (727) 847-2288. I don’t do divorce law, so the question, if you’re going through a divorce, you need to talk to your divorce lawyer. Thank you.