Buying A House After Separation Before Divorce at Buying

Buying A House After Separation Before Divorce. If neither person wants to remain in the home or buy the other out, the simplest approach could be to sell the property and divide the proceeds once the current mortgage and other fees are paid. If you buy a house, the new home may be required to have both party’s names on the deed depending on state requirements, since technically you are still married.

These risks cannot be eliminated if you make the purchase before the final decree but they can be minimized by following certain best practices. Even if you and your partner are amicable, it is important to complete a formal family law property settlement to protect any new property you buy after separation. Generally, the family lawyers suggest that you finalize your divorce before you purchase new assets.

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Selling the house and dividing the proceeds. The equitable distribution statute in my jurisdiction extends from the date of the marriage to the date of the filing of the divorce complaint. One frequently overlooked benefit of selling the house before your divorce is. The short answer is, yes, you can buy a house during the period of separation from your spouse.