Buying a Home While Divorcing

We are not attorneys and cannot give legal advice.  We can recommend a real estate attorney to answer any questions you may have about this process.  This approach assumes the spouse's consent. Often, marital parties have already agreed on distribution of assets, and one simply wishes to move out of the marital home to become "re-settled" before the court declares a divorce final.  Everything below applies to that situation.

The answer is YES, you can buy a home while in the process of a divorce.  To do so, you will need the help of a friend or family member who you trust absolutely.  Also, you should discuss your exact circumstances with a real estate attorney before undertaking the purchase (and our attorneys will probably discuss this with you at no charge).

To purchase a home before divorce is final, you select the home, arrange financing in your name alone, and indicate to that you and the trusted party will be taking joint title to the home.  This is the same form of ownership that might be used by partners who intend to buy and renovate a home, and it is a form of ownership that supercedes Kentucky marital rights (called dower and curtesy rights) of the spouse.  This prevents the spouse's marital rights from automatically "attaching" to the new home at the time of closing, and it is not necessary for the spouse for formally relinquish those rights when the divorce is final.

Here's where the absolute trust part comes into play.  When the divorce is final, the trusted party must execute a "quit claim" deed -- a legal document which releases his/her legal interest in the home. At that point, you are the sole owner, which was your intent.

There are actually other and simpler ways to accomplish this same result, depending upon the level of trust between the divorcing spouses.

Again, consult with a real estate attorney before undertaking the process.  This approach isn't difficult or expensive, but informing the real estate attorney of your exact circumstances is important.

If you would like a referral to our real estate counsel to discuss this, please let us know via the form below....

First Name:
Last Name:
Email Address:
Phone:
Questions / Comments:
SEARCH LISTINGS
More Search Options

BE THE FIRST TO KNOW

SIGN UP NOW

HAVE A QUESTION?

JUST ASK

Track MY HOME'S VALUE

LETS GET STARTED

Why LIST WITH US?

FIND OUT MORE

Our RELOCATION RESOURCES

We have the resources, local knowledge and expertise to help make sure your transition is as smooth as possible.

Moving to Louisville Moving from Louisville
From Our Blog View All
Wednesday, March 08, 2017

Baby Boomers are On The Move!

Baby Boomers On The Move! Keeping Current Matters recently published this quick piece on Baby Boomers relocating to be closer to family, to enjoy better weather or simply because they want to!   If you're considering making a move to or within ...  Read More

Monday, March 06, 2017

What If You're A 'Credit-Invisible'

What If You're "Invisible" to the Credit Bureaus? RIS Media recently published an article about people who have not used credit in the past, and are therefore "invisible" to the credit bureaus. As you probably know, Credit is one of the Four Cs that ...  Read More