Rights to a Separately Owned Marital Home After a Long-Term Marriage
My question involves marriage law for the State of: Illinois
My father is in the middle of a divorce after 30 years of marriage (he is 77) . He built and owned his home before the marriage. His spouses name was never on the deed.
A few years ago he had a quit claim deed with a life estate made in which stated that when he passes away that the house will go to his wife and after her passing the house will go to his 4 children.
She is requesting that she receive 60% of what the house is appraised at. During the marriage she did not contribute anything financially to the property or pay any of the household bills over their 30 year marriage
. How does this apply since her name is not actually on the deed and she has filed for divorce
Re: Rights to a Separately Owned Marital Home After a Long-Term Marriage
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simplycleanvk
A few years ago he had a quit claim deed with a life estate made in which stated that when he passes away that the house will go to his wife and after her passing the house will go to his 4 children.
My guess is that the deed is not exactly as you described it; if it was, it would be rather unusual and, moreover, not a very tax smart thing to do. If he consulted that amazing lawyer before he did this then my guess is that it is actually a bit different than you suggest here. His lawyer is the one to tell him what his wife is entitled to get in the divorce and advise him on negotiation strategy. She can ask for whatever she wants; it does not mean she will get it.
Re: Rights to a Separately Owned Marital Home After a Long-Term Marriage
My dad has a new lawyer that so far has been amazing. I was just trying to get a idea of what options my dad might have available and also that I myself would have a better understanding of how the deed works since I am not in touch with the Lawyer myself only occasionally. I am hoping that since the Quit Claim Deed with a Retained Life Estate was only completed 3 years ago and she has been planning to leave my dad for a while that this will be to our advantage.
I just wanted to say thank you to all of your responses and your advice I do greatly appreciate it.
Have a very Blessed and Joyful Thanksgiving to all
Re: Rights to a Separately Owned Marital Home After a Long-Term Marriage
It’s not to your father’s advantage. A deed is forever. A grantor does not have the option of rescinding a deed.
Re: Rights to a Separately Owned Marital Home After a Long-Term Marriage
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simplycleanvk
I am hoping that since the Quit Claim Deed with a Retained Life Estate was only completed 3 years ago and she has been planning to leave my dad for a while that this will be to our advantage.
It may well work to your father's advantage if there was a quid pro quo. You say that the wife has been planning a divorce for a while. Why did your father decide to execute the quit claim deed when he did? Could it have be an inducement for the wife to stay in the marriage?
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jk
It’s not to your father’s advantage. A deed is forever. A grantor does not have the option of rescinding a deed.
But a court can invalidate the deed if there was an inducement, or a fraud. There must be donative intent.