Use your wife's account......................................$0
Tapping into professional knowledge..................$0
Obtaining valuable information.............................$0
Having the audacity to complain about the answers.......................PRICELESS !!!!
Y'know, you've set up a really difficult situation that is difficult to maintain - having your principal residence be severally owned in a community property state where the spouse is contributing to the upkeep of the property.
My concern is that you're blowing the pre-nup by having your wife co-sign the loan. The whole idea of a pre-nup is to demonstrate your intentions if it becomes time to divvy up the assets, and what you're planning may demonstrate that you have changed your mind since the pre-nup and that you have decided to co-mingle your asset and make it part of the community property.
Just because this is your wife's idea doesn't make it a good one (it is, by the way), but you've set up such a fragile structure that you really can't attempt this without good legal counsel.
All the best,
Arizona statute, it's yours no matter what. Now, I'm not a lawyer, so I'd suggest you talk with a divorce lawyer before banking on that. Really I'd suggest you talk to one anyway. This is a legal matter, not a finance or real-estate question.
But, I do not need, or asked for, a lesson on personal relationships. Doing this has been my wife's idea, and she is aware of all this - this is her trulia account and she is reading all this. Even though for personal reasons the property will remain under my name only, if something happens that I pass the property will be all hers. Dave, please keep your personal advice to yourself. If I needed that kind of adviceI would have called Dr. Phil.
I am not sure why there is conflicting information, with most saying that it can not be done and Debbie saying that it can be done.
Thanks again anyway to those who provided real estate information.
If you need the name of a couple great attorney's that know about Real Estate Law, drop me an email or call me and I'll be happy to pass that information on to you both.
Real Estate Professional
I suspect - I am not an attorney - I suspect that if you co-mingle this asset by having your wife co-sign the loan, then you put yourself at risk of having that clause in your pre-nup become contestable.
I'd like to think that you can go ahead with the refinance, leave your wife off of the title, sign a memorandum to the effect that you and your wife intend for the property to remain your separate property, and live the way you planned to. But you'll need legal help to arrange this, if it is at all possible.
All the best,