QUESTION

Can I bye a house before my divorce final.

Asked on Jul 26th, 2011 on Real Estate - Pennsylvania
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Can I bye a house before my divorce final.
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1 ANSWER

Financial Markets and Services Attorney serving Blue Bell, PA at Max L. Lieberman & Associates A Professional Corporation
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JoAnn - If you have the funds and can get approved for a mortgage (particularly if your name remains on any prior mortgage), there is specific reason that you cannot purchase a new property prior to your divorce being finalized.    If you own another property with your present spouse, unless the mortgage company agrees to remove you from the mortgage and allows your spouse to assume full responsibility for the existing mortgage, you will still remain liable and many mortgage companies, unless you have unlimited funds, will typically hesitate to offer financing until your existing liabilities are resolved. However, as I am not privy to your precise circumstances, you should certainly consult with your divorce attorney to make sure there are no issues within the parameters of your domestic situation which would preclude your ability to purchase.  I would further recommend that you have a will or other estate documents which provides for any new property you purchase prior to the divorce being finalized.   Marla D. Sones
Answered on Nov 25th, 2011 at 8:18 AM

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