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Tina
Tina, Lawyer
Category: Legal
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Experience:  JD, BBA Over 25 years legal and business experience.
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I paid $320,000 cash for a house before marriage. Now 10

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I paid $320,000 cash for a house before marriage.
Now 10 years later my wife insists on "just add her name to the title"
Would giving in & adding her name to the title make that big of a difference if a divorce would come?
I had about $1,000,000 net worth & she had $35,000 net worth when married.
Now we're about $900,000 combined net worth.
In MN

Hello and welcome.

My name is XXXXX XXXXX my goal is to provide you with excellent service today. Before I can give you an accurate answer to your question, please provide the following additional information:

How much equity was in the property when you married?

I look forward to assisting you as soon as I have received this information. Thank you.

Customer: replied 3 years ago.

I paid $321,500 cash for it with no debts in May of 2001 before married.


Got married in Jan of 2002.

I see. Thank you for providing this additional information, Dan.

It would typically be considered your separate property at this moment since you purchased it before you were married. Your spouse could have a limited interest in any increase in equity or improvements made using marital property since you got married, but if you add her name to the title, that would typically transmute it into marital property. That means that she would then have a 1/2 interest in the value of the property if you were to divorce typically so you would potentially lose 1/2 of the equity you had in the property when you married.

Without adding her name to the title, the value of the property when you married belongs to you as your separate property normally, but if you add her name to the title, she would have a 1/2 interest in the property period, despite the fact you purchased it prior to your marriage. So the difference could be very significant.

I hope this helps clarify the situation for you. My goal is to provide you with excellent service – if you feel you have received anything less, please reply back as I am happy to address follow-up questions. Kindly rate my service when I have answered your questions so I will be compensated for my time assisting you. Thank you!

Tina

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