If I own a few rental properties but get.divorced, are my properties secure?

If I put my properties under an LLC, would they be as secure from loss from a divorce settlement?

Asked on February 8, 2015 under Family Law, California

Answers:

Bruce Provda / Provda Law Firm

Answered 5 years ago | Contributor

In a state like California, this would all depend on when you bought the properties.  If they were purchased during the marriage they would be community  property and divided by 50%.  If you owned them in your name alone prior  to  marrriage, there could be some argument that they would not become part of the assets.  You need to consult a local attorney on this.

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Your state is a community property state: if you purchased the properties while married, your spouse already essentially "owns" 50% of them (they would be community property). Putting them under an LLC now would not help; you cannot alienate your spouse's interest.


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