How do I protect my investment?

Get Legal Help Today

 Secured with SHA-256 Encryption

How do I protect my investment?

My husband is awful with money, and we have split our finances because of it. He lives paycheck to paycheck and has no savings, where as I have saved enough money for a down payment on a house. Considering I will be providing the down payment a well as paying 70% of the mortgage repayments, is there a way I can protect myself in case things go south in the future and we end up divorcing?

Asked on August 9, 2019 under Real Estate Law, Ohio

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

You and he can enter into a written agreement called a "postnuptial agreement" (i.e., an agreement entered into after, or "post-," marriage, to distinguish from one entered into premarriage, a/k/a a prenuptial agreement) to specify that in the event of divorce, you receive the lion's share of the equity in the house (e.g. repayment of downpayment, plus 70% of the proceeds over that). This agreement has to meet all your state's criteria regarding such an agreement (e.g. wording, signing, whether it must be notarized or witnessed, etc.), so you are strongly recommended to go to a family law attorney, who can help with drafting and execution.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption