Community property – does it matter?
Your home is your castle, or so it is said. Who you share your castle with is important in the eyes of the law. Knowing how your state views the sale and purchase of Real Estate could help you avoid legal surprises- as it relates to your castle.
Some states are considered community property states, where the spouses own all property equally. In this situation, if one partner is purchasing a property as individual ownership, the title company will require the spouse of a married person acquiring title to specifically disclaim or relinquish his or her right, title, and interest in the property.
Time to buy your castle? Then ask yourself this one question-
Are YOU in a Community Property State? Here they are for 2018
Looking to buy or sell Real Estate in SE Connecticut then give me a call and let’s discuss your CASTLE and how to make YOUR Real Estate Dreams a reality!