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Home and ownership

secondwife1234's picture
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Fiance now becasue we can not get married until the x and him go to trial which should be early next year. We have decorated and are moving into a new condo as a second home and eventually our full time residence when we are older. (15 years from now)

He says its out home and is getting a large loan under his name although he has the cash to buy it.

 

He is putting it in a trust or LLC. Is that to protect his businness and assets as he cliams or to not give to me . Its ocer 3 million dollars.

Rags's picture

You need a prenup clearly defining your financial rights in this marriage.   This does not pass the smell test in any way shape or form.

Don't listen to his words, pay attention to his actions. He is setting you up.  All of the advantages are his. 

Protect yourself and your interests.

Thumper's picture

If I were in your shoes, I would speak with a private attorney. Someone should look out for your interest.

He can hold the loan but both names should be on the Title to the home, yours and his.

 

Harry's picture

Condo.   As 1/2 owner.  Or 3/4 owner.   If still married to the ex she can contest any will,  normal you leave some token money to the ex and SK 

SteppedOut's picture

OP, let me start by saying you DO need to look out for your financial interests. 

That being said, how long have you been in a relationship? Do you and your boyfriend have similar incomes? Will you be contributing financially to the home? 

I would have a very difficult time putting a significant other (not married, not long term relationship) on the deed of a home that I was going to be the only one on the mortgage; particularly if I was going to be the only one paying the mortgage. And, I thinking asking for that (at least while the relationship is new) would make you appear like a gold digger (even if that was not the intent). 

susanm's picture

What "he says" means exactly f*ck all.  What matters is what the legal documents say.  Deeds, marriage licenses, divorce decrees, marital settlement agreements, powers of attorney, wills, beneficiary designations on life insurance policies and 401k/IRA accounts, ect...  If you are not legally provided for then you are, in the most polite term possible, sh*t out of luck.

At the very least, until the divorce becomes final you should be protected with a life insurance policy on him which he consents to but that is owned by you so that you are fully in control of it and the beneficiary can not be changed behind your back if he is pressured by the BM or skids.  It will cost him nothing except a signature on a form agreeing to the policy and maybe a physical.  If he objects to this then you have a bigger problem than you already think you do.

Willow2010's picture

He is putting it in a trust or LLC. Is that to protect his business and assets as he claims or to not give to me 

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

The fact that you have to even ask this, speaks volumes about your relationship. 

If you have only been in this relationship for 3 years...you are not entitled to his money or property anyway. IMHO.  

Willow2010's picture

Lot of things would depend on how much people are entitled to.  However...this sounds like a very short term relationship and the guy is extreamly wealthy and the OP works for him.  I assume in administraytion. 

If she was an extreamly high earner she would not be here wondering how much money she is going to get in his will or from his house.  

shamds's picture

yrs at that point and had 2 kids together.

hubby bought a home in my country put in my name from a large chunk of his retirement savings because he wanted to diversify and also because his adult skids, exwife and 14yr old sd were having eldest sd(now 24) tell hubby continually that he needed to transfer property he owned and purchased after divorce from exwife because he owed the exwife.

She has been remarried to her lover whom she had cheated on whilst married to my husband and they have been married for 11 yrs now and she wants to hide any property she sees herself entitled to from her current husband. Sd’s have been living rent free in a home for the past decade.

i told hubby that this was a big issue for me that they are pressuring you into selling and transferred your assets and clearly want us tossed to the street. So it starts with this 1 property then you have set a precedent and next thing you are dead and i am left with nothing and 2 minor kids in early years of primary school and thats not a trusting kind of marriage to be in.

hubby knows skids are brainwashed and controlled by the exwife, hubbys salary went through the roof after he divorced exwife and she still believes she is entitled to a piece of the pie

my husband wanted to diversify assets and the home purchased in my country was a really good bargain and great value for money. It was money well spent. 2 skids are 24.5 and almost 22 and need to be building their own future and not freeloading off their dad and try kick us to the street.

some here have said that i don’t deserve to have a home purchased for me and my kids and that if things wnded with my husband that i should be responsible for my kids and be financially independent 

i resigned from my job and moved overseas and had 2 kids with my husband and plan always was once kids were a bit more independent that i would finish my studies and be back in employment when both kids were in fulltime primary school. Hubby can’t tell me to fend for myself when exwife hasn’t worked in 26 yrs and relies solely on hubby for cs and contributes nothing because thats hypocrisy.. 

in my husbands eyes, exwife did not contribute to his wealth, she wasn’t a wife, she was an abusive neglectful mother who sabotaged his career and got him demoted from his job because she caused drama at his work during the divorce. I have supported him as best he can and he can focus on his job, i take the reigns at home and plenty of times he is flying interstate or overseas for his job and regularly home around 9-10pm from his job in essential services, i made sure his laundry is all done and whatever errands he needs help with.. so to hubby being married for 5 yrs to him and having 2 kids is deemed a long relationship and my country also recognises it as too.

if exwife and your partner were together 10-20yrs but the ex was unsupportive and abusive, cheating and he has now been with someone for 5 yrs who has contributed to his quality of life, the 5yrs of marriage in my case has contributed more than the 14 yrs of marriage my hubby wasted on his ex.

i have also had some people here claim its absurd I contributed to hubby’s career in those 5 yrs we have been married and have some nerve to be demanding financial security from him.

but when you commit yourselves together and in my case have 2 kids together, you expect your spouse to have your best interests to heart. His kids 2 are adults, another will be in a few more years and should not be relying on their dad to be their backup atm, they need to get on with life... i would never remain in a marriage with my husband if he refused to have out best interests at heart...