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    sandy99999's Avatar
    sandy99999 Posts: 1, Reputation: 1
    New Member
     
    #1

    Sep 16, 2016, 11:18 AM
    Difference b/w having Investment home title on 1.Wife & husband name Vs. 2.Just
    My husband brought an investment property in Texas and told me that he was putting both our names on the title. We live in a different state. He asked me NOT to come to closing and asked me to sign a notarized power of attorney so that he can sign on my behalf at the closing. The POA he took appointed him as my agent to deal with all the transactions regarding that house.
    I later realized that the title doesn’t have my name. I am trying to understand what he accomplished with this process. Can please explain the difference between the below three scenarios
    1. The Texas investment property has both our names on the title.
    2. The Texas investment property is just on my husband's name.
    3. The Texas investment property is just on my husband's name, and he got a POA signed and notarized from me that appoints him as my agent to deal with all the transactions.
    smoothy's Avatar
    smoothy Posts: 25,495, Reputation: 2853
    Uber Member
     
    #2

    Sep 16, 2016, 11:28 AM
    Depends a lot on if you live in a community property state...the Property is in TX, but which do you live in.

    It can be argued in any case that it was acquired DURING the marriage and you are entitled to half of it if it goes sour and a divorce happens in his name alone or not.

    The POA only ALLOWS him to act on your behalf. It doesn't REQUIRE him do do so.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
    Expert
     
    #3

    Sep 17, 2016, 06:36 AM
    ... Can please explain the difference between the below three scenarios
    1. The Texas investment property has both our names on the title.
    2. The Texas investment property is just on my husband's name.
    3. The Texas investment property is just on my husband's name, and he got a POA signed and notarized from me that appoints him as my agent to deal with all the transactions.

    There is probably no difference between #2 and #3. Find out from the closing agent whether the POA was presented and recorded. If I was recorded, you should record a revocation of it.
    cdad's Avatar
    cdad Posts: 12,696, Reputation: 1438
    Internet Research Expert
     
    #4

    Sep 17, 2016, 01:04 PM
    Also how was it titled? Was it listed as husband a married man ? Or was it in some other way? Most times there is a description in the title.

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