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susanp
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I am uncertain of the legal definition of Legal equitable or future interest in property.

I am a Real Estate Broker and to me these phrases all reference types of legal use of a property.When I filed for BK I claimed I had no interest in any Real Property.Five years before filing I had invested with my Fiance in our home. The home is titled in his name alone.

Did I give up my legal right to our home ?

Edited by susanp
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You have no interest in the home. Not now, not in the future.

If you were to get divorced, IN MOST STATES* the amount of equity built in the home (regardless of how it is titled) from the time of marriage to the date of separation, less future asset maintenance costs, would be considered a marital asset. And that number would be added to all other marital assets and then split according to your divorce decree.

*this varies greatly from state to state, so beware I am talking in generalities here.

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Did I loose this right to ownership due to my BK filing ? My fiance (now husband) owned numerous investment properties together. They were always jointly titled. When we sold them we rolled the money over into the next investment,We did this as a business for 18 years.

Most of the time we had a mortgage that we both signed.

Edited by susanp
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You don't own this property. You can't lose what's not yours to begin with. If you rolled in prior joint equity, then that's sourced back to become part of the marital asset calculation.

So you won't lose anything. You'll get "credit" for the % of the total marital assets if you divorce. I say credit because if total assets are $400k and you are allocated 50%, you'll end up with $200,000. If the home is worth $200,000, you can't say "I'll take the house". You don't own it, your husband does.

I own a rental property solely in my name. My wife and I pay the mortgage jointly. Should we get divorced, all equity built since marriage is a marital asset. If we split and she gtes 50% of the assets, she can't take 1/2 of my rental property, but she'll get a check that makes her whole because it will include 1/2 of the equity in the rental property (less forward upkeep & maintenance).

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