QUESTION
Can there be a buying and selling contract between husband and wife?
Asked on Jun 27th, 2013 on Divorce - Nevada
More details to this question:
Could my husband sell to me half of his sole property? My husband have received from a relative as a gift, land where we are living, which is not really a gift because we both are going to pay for it. My husband doesn't want to put the property under my name until we paid it off, to be sure I will pay too. But how can I be sure when we paid off that he will put the property under my name too. So he says we could make a buying and selling contract, where he sells to me the half of the property ,that way I will be committed to pay for it, is that possible, and will this property be just mine in case of divorce? We live in New Mexico.
1 ANSWER
Personal Injury Attorney serving Reno, NV
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Law Offices of Jill K. Whitbeck
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You need to direct this to an attorney in New Mexico. What you are suggesting would be a problem in Nevada, as a community property state there is no "your money" or "my money" all money is community property income, and making payments on a separate property item would create an interest to the community whether or not your name were ever put on the separate property. In Nevada, what you are really trying to do is have the community purchase the separate property.
Answered on Jun 27th, 2013 at 4:02 PM