Hi,
I am purchasing SFH through LLC, I am paying all cash for it. Does my wife have to sign off on any paperwork? Seems like since my business is purchasing property and paying 100% cash for it she should have no say in it.
Property is in MI.
Thanks!
Is she a part of yoir LLC?
Are you in a community property state?
Are ALL of the funds yours and have NEVER been co=mingled with the family accounts to which she has or had access.
Did she contribute any of the funds?
Lots of legal stuff here, I am not a lawyer and do not play one on TV. Your quearion is best answered by a competent attorney.
Good Luck.
Is she a part of yoir LLC? - She is not part of LLC.
Are you in a community property state? - No
Are ALL of the funds yours and have NEVER been co=mingled with the family accounts to which she has or had access. - All funds are mine, she never had access to them.
Did she contribute any of the funds? - No.
Thanks.
On the legal side of the purchase, she does not need to have any part in the deal based on the answers to those questions.
In the event of a divorce, she may suddenly have an interest in the properties and depending on the state divorce laws, may even have a right to it. (Though you would need to seek legal counsel to make sure.)
On the personal side, if there is a chance of causing marital problems, you may want to look beyond the legal side and consider the emotional side as well.
Thanks all for reply.
Title company ended up assigning my investment property in my LLC, my wife didn’t have to sign off on anything. This makes sense, I can’t imagine big birds who might do 50-100 deals a year, to have their spouse sign off on every transaction.
Consider this thread closed.
I am into my second deal. Regards.
According to your question, she doesnot have any rights to take anything from a deal or to involve in this legal issue.
If you are in one of the SIX community property states she has and will get her share in event of divorce…ask me how I know???
It depends whether you are a man or a mouse.
If the LLC is a single member then you could have some problems.
But if you were smart enough to not have a single member LLC then she does not feature at all
Well Mr.Mouse - is it a single member LLC?