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Is a property owned prior to marriage likely to become part of the husbands assets?
Wiki User
∙ 15y ago
Depending on the state laws all property owned by a husband at any point during their marriage, regardless of when it was purchased, could become part of the marital assets.
Wiki User
∙ 15y ago
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Could property in the form of a cash gift from parents acquired before marriage become community property if it is invested by one spouse during the marriage in the sole name of that spouse?
No as long as that cash is in a separate account and has not been combined with marital assets.
When does an inheritance become considered an asset?
Any property you own is considered part of your "assets." Anything you inherit becomes your assets as soon as it is inherited.
If you own two rental homes in Texas will they be in jeopardy if your fiance has to file bankruptcy on debts he incurred before the marriage?
First, no question about it, being married to someone who then files bankruptcy, or has financial issues, can certainly affect you in many ways. I believe (but am not sure) Texas is a community property state. I which case you can definitely have more problems, as each of your assets and liability easily become community assets, and these would logically be part of the bankruptcy. There are ways, albeit it takes a certain amount of action ( prenupts, separate bank accounts, etc.,) before and during the marriage, to keep your assets as "sole & separate". Good lawyerly advice is needed. * Real property that is owned before marriage does not become part of joint marital property unless the title is changed to include the new spouse. Debts incurred before a marriage do not become the responsibility of the new spouse even in a community property state such as Texas. Joint marital assets will be subject to bankruptcy procedure in a CP state even if only one spouse files for bankruptcy.
If you owned your property prior to marriage will your ex be entitled to any part of it after a 6 month marriage?
No, community property refers only to that property that is gained during the marriage. However, if you use community property or income earned during the marriage to continue mortgage payments, to improve, etc, then a portion of it does become community property.
How did the civil status of American women and men differ in early republic?
Men were thought to be superior to women. Womens education was only supported so that they could become better wives and mothers. Marriage laws supported this unequal power, wives were obligated to obey their husbands. Womens property was her husbands and even their children were his. Women were not allowed to keep their wages, to make contracts, to sue or be sued.
Does property purchased beforè marriage become community property?
Generally, no. Unless the other spouse contributed money or labor toward improvements.
Can long term assets become current assets?
yes in the year in which they need to be dissolved in that year those assets can become current assets.
When a couple is married and one owns a home does this home become community property?
Laws vary in community property states, but in general, if the home was owned by your spouse before you were married and you moved into this home after you were married - the home is his. What you own prior to marriage is yours when you end the marriage. But it is not quite that simple. During the course of the marriage, your property will increase in value. If your spouse contributed to the costs of maintaining or improving the property, she is entitled to a percentage of the increase in value. Contributions don't necessarily have to be monetary either. You will still get to keep the house, but you may have to buy out her percentage from the your share of the total assets. You need to work with your attorney to establish a monetary value for those contributions.
When do assets become expenses?
Assets become expenses when their economic benefits expire.
What happens to a tax lien property when owner dies?
Generally the assets of a decedent, such as his property, estate or trust are liable for his debts before the assets are distributed to heirs. Death does not extinguish a debtor's obligations.
What happens to wealth acquired before marriage in the case of divorce?
Marriage and divorce are governed by the laws in each jurisdiction and those laws vary. Property acquired prior to marriage does not normally become community property in a community property state. The laws in separate property states allow married people to hold property separately. However, there are extraordinary circumstances that may affect marital distribution in the case of a divorce in both systems. You should seek the advice of an attorney in your jurisdiction prior to marriage.
In Virginia can a spouse whos name is on the deed and mortgage sell their house without the other spouse consent whos name is not on either one?
California is a community property state. Your husband may need your signature to sell his property if it was not titled as "separate property". Property acquired after marriage may become community property depending on the source. If the property was inherited then you may have no claim. However, if the property was purchased then the following passage may apply: "In California, any assets that are acquired during marriage become community property, (i.e., belonging to both spouses), unless they are specifically acquired as separate property. Real property that is conveyed to a married man or woman is considered community property, unless it is stated otherwise. In order for a married individual to acquire title in his or her name only, the spouse must relinquish all right, title and interest to the property. Usually, this is done by executing a Quitclaim Deed to the property, which is recorded concurrently with the deed to the property." You should seek the advice of an attorney.
