Is Oregon a community property state?

Is Oregon a community property state?

Oregon is known as a common-law state where each spouse has separate property that must be probated or have another mechanism to pass the property along. However, Oregon is surrounded by community property states like California, Washington, Nevada, and Idaho.

Can you separate assets before divorce?

Separate property belongs to the spouse who owns it and is not generally divided in a divorce. California law also provides that property spouses acquire before a divorce, but after the date of separation, is separate property.

What happens if my spouse dies and my name is not on the mortgage?

Federal law prohibits enforcement of a due on sale clause in certain cases, such as where the transfer is to a relative upon the borrower’s death. Even if your name was not on the mortgage, once you receive title to the property and obtain lender consent, you may assume the existing loan.

Can a person’s name be on a deed without being on the mortgage?

It is possible to be named on the title deed of a home without being on the mortgage. However, doing so assumes risks of ownership because the title is not free and clear of liens and possible other encumbrances. If a mortgage exists, it’s best to work with the lender to make sure everyone on the title is protected.

What rights do I have if my name is not on the mortgage?

If you are married and the house is not in your name then you will still have your matrimonial right of occupation which means the house cannot be sold without your permission and you can continue living in the house till any court issues an order requesting you to leave.

Does a wife have any rights to husband’s property?

All property of the husband and wife is considered marital property. This means that even property brought into the marriage by one person becomes marital property that will be split in half in a divorce. A wife can claim a husband’s property after the divorce but subject to certain conditions.