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ScottyMacEsq
ScottyMacEsq, Attorney
Category: Legal
Satisfied Customers: 16186
Experience:  Licensed Texas General Practice Attorney
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My husband and I are getting divorced. Neither of us have attorneys

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My husband and I are getting divorced. Neither of us have attorneys at this time. He is refinancing the home we are currently living in and I will be moving out after the closing. How do I ensure that the money I receive from the closing is not considered a double-whammy against me when we settle out finances at a later date? Basically, is there any paperwork I need to have completed before the closing of the house - or after - that will keep me from having to include the money I receive from him buying me out of the house as part of a divorce settlement of which he will get 50% of in the future? Thank you.

ScottyMacEsq :

Thank you for using JustAnswer. I am researching your issue and will respond shortly.


 

ScottyMacEsq :

You should have a written agreement between you and your husband that lays out the understanding that he's getting the house and you're getting this payment in exchange. Basically a written document that says that "[Husband] agrees that the cash payment to [wife]


 

ScottyMacEsq :

sorry, hit the return button accidentally


 

ScottyMacEsq :

"[Husband] agrees that the cash payment to [wife] is the full and final settlement concerning the real property situated at [address], and the proceeds received by [wife] are hereto-forward considered separate property and not to be included in a marital property disposition or settlement. [Wife] agrees that any interest signed over to [husband] concerning said property is likewise considered separate property and not to be included in a marital property disposition or settlement."


 

ScottyMacEsq :

Sign this and have him sign it (and preferably notarized). That way, if he wishes to bring that money in, you can use this agreement as evidence that this amount was given to you as separate property, and should no longer be considered as marital.


 

ScottyMacEsq :

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX luck to you!


 

Customer:

Okay. Thanks. Should this notarized document be completed before the disbursement at closing of the property?

ScottyMacEsq :

That would be a good idea, as it would provide further leverage for him to sign so that the closing will go smoothly.


 

Customer:

Thanks again. Can I print your advice? Don't see the printer option anywhere.

ScottyMacEsq :

After you rate it, it should switch to Q&A, at which point you'll be able to print. You may need to "refresh" the page (use the refresh button or F5) but after that you should have no problem.


 

Customer:

Will do - thanks again.

ScottyMacEsq :

You're welcome, and again, good luck to you!


 

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