If my husband is to sell myfather-in-law’s house to our nephew, if my husband dies and there is still a balance owing who is entitled to the remaining installments?
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If my husband is to sell myfather-in-law’s house to our nephew, if my husband dies and there is still a balance owing who is entitled to the remaining installments?
My father-in-law’s attorney set up a legal document between my husband and nephew stipulating the monthly payment amount and other details, one of which brings up my question. This agreement states that should my husband pass away (he is still living) before his nephew pays the balance on this house, the monthly payments are to go to my sister-in-law and not to my husband’s estate. Should this house not go to me considering I am his wife? Would this not be marital property? I was not present when these documents were drawn up and have not signed off on anything.
Asked on August 19, 2011 Pennsylvania
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I can surely understand your concern and even your anger here, but if your Husband received the house from his father as part of his inheritance or as a gift to him alone then it may not be marital property. It is inherited from his Father. Inheritance is not considered marital unless the asset is co-mingled or there is a clear intent to have it become a marital asset. I think that the clear intent here is to have it be separate property and the document proves that. I would take the document and consult with an attorney in your area. I do not think that if it is considered inherited you really have to sign off on anything. It does not pertain to you. Good luck.
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