Good Afternoon All,
I have decided to blog about a title issue that we see frequently in this lovely State of Ohio. Dower Rights..
This is just for your information incase you did not know. We have recently had several people attempt to refinance or sell their properties unbeknownst to their spouse. Unfortunately or fortunately, this is a BIG NO NO in the State of Ohio.
OHIO is a dower state. Which means, if you are married, your spouse automatically has a dower interest in your property. Even if they are not in title, the spouse still has rights. Therefore, if you decide to refinance or sell that property your spouse will need to sign certain documents acknowledging the fact that a transaction involving the property is occurring.
Another example of dower rights if two siblings inherit a property and it is titled to those siblings for example: Mary Doe married and Sally Donut married, their spouses would also have an interest in that property. Mary and Sally would not be able to refinance or sell without their husbands signatures. One step further let's say Mary passes away and leaves her interest in the property to her children Matt and Mike both are also married in order for a transaction to occur on this property both children, their spouses, Aunt Sally and her husband would have to sign the paperwork.
As you can see this can make things complicated very quickly.
There is more to real estate title transfer then just filing a Quit Claim.
If you think you may have this going on your property you may need to speak with a real estate attorney. I know a few good ones. Let me know and I will pass your information on to them.
Of course if properties are titled as a business or trust the rules are different and may not apply.
