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  1. #1
    Join Date
    Nov 2005
    Location
    Florida
    Posts
    69

    Default Own Home, Parents on Deed/Title As Well

    My question involves divorce in the State of:
    Pennsylvania & Illinois

    Ok. I own a home in Pennsylvania. My parents are going to live in my home and pay my mortgage on it. I added them to the deed. So the owners of the home on the deed are myself and both my parents.

    I currently live in illinois. I am going to get married in October. If something were ever to happen, like we got divorced, is the house not affected due to my parents being owners as well?

    I don't want to do a pre-nup or anything. I am hoping it would be unneffected do to multi-owners and done before I was married.

    Any idea/advice?

  2. #2
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: Own Home, Parents on Deed/Title As Well

    Create an irrevocable living trust.

  3. #3

    Default Re: Own Home, Parents on Deed/Title As Well

    Property you own prior to the marriage is not marital property unless it is transmuted into marital property (used in the marraige). You can do a trust but I would not do an irrevocable trust. I would either be sure the language of the deed has the right of survivorship or do a revocable trust.

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