QUESTION
Can spouses legally agree have disposal rights to shared property?
Asked on Sep 09th, 2014 on Contracts - New Jersey
More details to this question:
My wife and I were married and live in NJ. We want to buy a rental property in Ohio into which we might eventually move. I would like to have the right to sell the property in the case that it is not renting for sufficient income. Can we, as spouses make a contract granting disposal rights to one of us? Which state's laws apply? No divorce is involved.
1 ANSWER
2 Awards
You can make an ante-nuptial agreement - a pre-nuptial agreement is before marriage - ante-nuptial is after marriage. you can also buy the property in some form (such as a partnership) that would give one person the right to sell the property, or be the managing partner.
Answered on Sep 12th, 2014 at 12:39 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship