A viewer is interested in purchasing a piece of property with his father. Is this something he will have run by his wife? Real estate lawyers Ed Ciarimboli and Corey Suda tackle this question.
Dave Kuharchik: We’re talking tonight about buying a piece of property with one of your parents. Joining us, as always, attorneys Corey Suda, who’s here for Greg, and Ed Ciarimboli. Good to see you guys.
Ed Ciarimboli: Good to see you, you look like a million bucks today.
Dave: Thanks, you guys as well. Another fascinating question tonight because what happens when you want to team up with Dad. Kevin in Dalton was wondering, ” My Dad and I want to buy a piece of property together. Do I need to have my wife agree to this as well?” Should Kevin bring his wife in on it?
Ed: That’s a really good question. It’s a really good question. You should because, obviously, your portion of that property is going to become a marital asset. To avoid any trouble down the road, if you and your wife would happen to get divorced, I would have her sign off on it. Make sure she knows about it, make sure she signs off about it. You might even be able to get your wife, whether it’s husband or wife, to exclaim any rights to it. Talking to them about it, because you’re owning it with your father -you know,a family member- you definitely should. I think there could be some issues.
Corey Suda: I think, regardless of the law, you want your spouse to agree to that so you don’t have any problems at home. Obviously, when you own property, your spouse has a right to own some of that property. To make sure that there are no issues down the road, I would certainly get their approval before going for it, buying the property.
Ed: Down the road, or immediately at dinner.
Dave: Good advice. If you need legal advice or you want to talk to the attorneys here on “The Law & You” you could reach them by calling their office or checking them out online, as always. Results matter with attorneys Corey Suda and Ed Ciarimboli. Thanks so much guys.
Dave: pahomepage.com and “The Law & You” hotline are there for you.
The Law & You is a nightly feature on channels WBRE-TV 28 and WYOU-TV 22 where the attorneys from Fellerman & Ciarimboli answer legal questions. If you have a question that you want answered by the Law & You attorneys, please submit the form on this page or call the hotline at 1-888-570-HURT.