Same-sex marriages and the need for title changes

You are definitely ahead of the curve and properly informing your clients, well done.

Wonderful that you have brought attention to this newer issue in real estate. It does show that it always goes back to listening to your client's needs and concerns and then offering suggestions to find the right answers.

 

Roy - excellent post.  Legal marriage conveys so very many rights and responsibilities - and one critical area is inheritance.  People should definitely consult an attorney to review how they hold real assets when entering into legal marriage.

Marriage equality may soon become the law of the land - at least its heading in that direction.  With the Supreme Court scheduled to hear Prop 8 (CA) and DOMA (Federal) cases in March, this will be a lively issue in 2013.

This is definitely something to consider when working in states that are just developing these new laws. I've worked with gay couples in the past...at least I've assumed but didn't ask...didn't really care to be honest as I don't believe it mattered. The problem I see though is, without being discriminatory, how do you find out if this is applicable? Even if you ask how do you want to hold title, the response could very well be, what are my choices? Are you advising ALL of your buyers to consult an attorney? If not, are you then discriminating?

What the heck sex has to do with it is beyond me.....Business yes....Estate planning sure....but Sex?

Richie, if you need some advice about "Sex..." we have several folks here at Active Rain whom I'm sure could advise you.  No advice from me, though.  What I know is all from overhearing the other "girls" talk in the coffee room... LOL.

All I know is that with all the changes we have had,  it is better to advise your clients to contact a real estate attorney. I know the market, but everything else I have to refer you to an attorney.  

Hi Roy,

Such a good article and something necessary for this country as it is becoming more liberal in our world. A lot of changes taking place recently so we need to be in the know to help our clients.

I don't advise married couples how to take title on property. If they have questions they should seek legal advice from a qualified attorney. Thank you for the update on Maryland and the other states' law changes.

This post will have me checking laws here in California for vesting once again!  You shed light on the ramnifications of litigation exposure, and how vesting inappropriately might be costly!

Roy -- I would advise same sex coupls to seek both legal and tax advice... I think they are best suited to give advice to the parties.

That's an interesting awareness with regard to the title ownership category Roy that many people do not even think about or know the differences. A legal opinion certainly is warranted for these new circumstances in those states and the District where it applies.