Division of U.S. Real Property After the Divorce of Non-Citizens
My question involves a marriage in the state of: California
Hi,
I married my partner 2 years ago in California however we're both Israeli citizens living in Australia. We've been together for over 15 years, sharing a bank account for about 10 years.
We both some properties in the USA but as we are not citizens, the properties are:
1. one property is on my partners father name
2. one property is on my partners father name and will be given as a gift to my partner
3. other properties are registered to a USA company (joint venture) owned by my partner and his father
All properties were bought using our common money.
My concerns are that in case of my partners death or in case of divorce I will lose all my savings as I cannot be added as an owner (or can be added by paying a lot of taxes/loans which I cannot afford now).
I've been told one option is to sign a contract between me and my partner here in Australia to state that these assets are common.
Any ideas how I can ease my concerns of losing all my savings in this complicated situation?
Thanks a lot for your time and help!
Re: Division of U.S. Real Property After the Divorce of Non-Citizens
You can enter into contracts with your partner, and with the people who own the properties or corporate shares, to try to create a mechanism by which you or your heirs have financial recourse following death or divorce. The enforceability of the contract could vary depending upon where you enforce it -- we can't promise you how a court in Israel, for example, would interpret or apply a contract you enter in Australia -- and there are jurisdictional issues in relation to the parties who are in other nations (such as a father or corporation in the United States). Even if they agree to the jurisdiction of the foreign court, unless they voluntarily comply with the judgment any court ruling would still need to be enforced in the U.S.
So, basically, unless everybody cooperates, this type of arrangement is going to be complicated for you with or without an Australian contract. You can work with a lawyer to try to simplify things, as much as possible, but if the other parties involved want to make things difficult you can anticipate future difficulties.
Re: Division of U.S. Real Property After the Divorce of Non-Citizens
Quote:
Quoting
lawcurs
My question involves a marriage in the state of: California
Hi,
I married my partner 2 years ago in California however we're both Israeli citizens living in Australia. We've been together for over 15 years, sharing a bank account for about 10 years.
We both some properties in the USA but as we are not citizens, the properties are:
1. one property is on my partners father name
2. one property is on my partners father name and will be given as a gift to my partner
3. other properties are registered to a USA company (joint venture) owned by my partner and his father
All properties were bought using our common money.
My concerns are that in case of my partners death or in case of divorce I will lose all my savings as I cannot be added as an owner (or can be added by paying a lot of taxes/loans which I cannot afford now).
I've been told one option is to sign a contract between me and my partner here in Australia to state that these assets are common.
Any ideas how I can ease my concerns of losing all my savings in this complicated situation?
Thanks a lot for your time and help!
I do not see how you can make any claim to properties 1 and 2 because they are solely in the name of a third party. If you made an investment that can be separately traced you might have some leverage, but neither you nor your partner own those properties.
You may have a claim to a portion of your partner's share in the USA company.
Why in the world did you invest money in property without insisting that your name be on the property or the business?
Re: Division of U.S. Real Property After the Divorce of Non-Citizens
As posted you seem to have about zero interest by title in anything you post but for the joint account.
You best get legal counsel before it's too late.