What are the legal ramifications if my husband wants our new home to be in his name only?

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What are the legal ramifications if my husband wants our new home to be in his name only?

My husband and I have been married 10 years; it is second marriage for both of us. We each own a house indepentantly. He owns the one we live in now and I have a much smaller house that I rent out. We are looking to build a new house but he wants it to be in his name only. I am 68 and he is 70. The rent from my house would apply to the mortgage payment monthly. We each have 3 children and he says he wants to protect them. I am deeply hurt that we cannot build a house and own it together as a married couple. We have no debt at this time.

Asked on September 22, 2014 under Estate Planning, Tennessee

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

While I do not wish to pass judgement on things here I can surely understand how you feel.  And just so you know you do not have to consent to the house being in his name only. There are so many issues here I can only touch on a few.  What is he protecting his children from?  Understand that momney earned during the marriage is marital money and if you are building the house from that then why is he putting it in his name? Or is he building it with separate property money?  Also, I would speak with an attorney about using the rent money toward the new mortgage.  It may render the separate proeprty marital property under the law but it also gives you a stake in the new property regardless.  It may be a good idea to sit down with some one before you start to build.  Good luck.


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