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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55605
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I want to sell my home (that is paid off) to my husband of 8

Customer Question

I want to sell my home (that is paid off) to my husband of 8 years. We are not divorcing, but we are living separated because of jobs. I bought another home in another city and would like to cash out on a 60/40 split of my current home. Are there any laws that prohibit selling to your spouse?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.

Good morning. My name is ***** ***** I look forward to helping you. It will take me just a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 1 year ago.

Pamela...there is no law against what you and your husband want to do. But, what you are really doing here is partitioning marital assets where he gets the house as his sole and separate property and you get cash as your sole and separate property. There is no tax consequence to this transaction. You simply sign a partition agreement separating your interest in the house and the cash, sign a quit claim deed transferring you interest in the house to your husband as his sole and separate property and putting the cash into a bank account under your name as your sole and separate property.

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