You really think she would try and claim your condo? That would be quite the bitch move.
We don't think she would, because she likes Vicki and they are on good terms. But you never know when a divorce is going to turn nasty, and she literally is bipolar and sometimes does some really crazy ish, so we just don't want to take the chance.
Originally Posted by
white_n_slow
Did they take title as Joint Tennants or Tennants in Common? If it's joint tennancy, crazy wife has no claim or recourse.
That aside, if you want him off the deed and he's happy to do it, quitclaim is pretty much the standard way to do that in CO. Call up your CPA and ask about tax ramifications, but I don't think there are any.
I don't know about the Tenancy thing. Where would we look to find that info?
Don't have a CPA, have always used turbotax for taxes and haven't needed one. The value of half the property is about $75k. I've seen that there's a $12,000 yearly limit on gifts, but also some sort of $1 million lifetime limit? I think we are going to have Vicki's dad talk to his divorce lawyer, and see if she knows about this stuff or knows a real estate lawyer.