Who will inherit property released froma mortgage during marriage?
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Who will inherit property released froma mortgage during marriage?
Several mortgage properties were paid for and released by the bank during the marriage (both spouses worked). But they are on the husband’s name only. In case of the husband’s death without the Will, what will the wife inherit and what will be inherited by the 2 adult stepchildren?
Asked on November 13, 2011 under Estate Planning, Georgia
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you have several mortgages that were paid off during the marriage (i.e., discharged), then regardless if both spouses worked, it would most likely have turned into a marital property even if it didn't begin that way. At this point, it makes no difference if the title is in the husband's name, the fact mortgages were paid off during the marriage will again mean that the wife has a portion if not half of each property. If the husband dies intestate (without a will or trust), and the husband dies while still married, then the wife will get a portion and the remainder will go jointly to the other two children to split. In California, for example, your property would most likely be considered community property and you should get it all but if not, you would most likely get 1/3 and the remaining 2/3 would go to his children. You may wish to remove all doubt and have him transfer title so that you both own the property as joint tenants with rights of survivorship. If he refuses, you may wish to consider another way for you to be compensated for your contribution to paying off these mortgages.
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