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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]
sorry, hit the return button accidentally
"[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."
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.
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Okay. Thanks. Should this notarized document be completed before the disbursement at closing of the property?
That would be a good idea, as it would provide further leverage for him to sign so that the closing will go smoothly.
Thanks again. Can I print your advice? Don't see the printer option anywhere.
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.
Will do - thanks again.
You're welcome, and again, good luck to you!