QUESTION
If we have not yet filed for divorce and I purchase a new home, does this become marital property?
Asked on Apr 22nd, 2013 on Divorce - Pennsylvania
More details to this question:
My husband and I have decided to separate/divorce, no legal filings have been made to this point and he has moved out. Because I cannot afford to keep the marital home on my salary we are preparing to sell. My question is if I apply for a new mortgage and buy a new residence for myself, does this then become marital property?
1 ANSWER
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Marital assets are those acquired from marriage to separation. That includes an increase in value of non marital assets. As long as the new home is not purchased with marital assets, it will not be marital if purchased after you separate.
Answered on Apr 22nd, 2013 at 3:07 PM