If I am legally separated, is there any reason I should not purchase real estate with another person?
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If I am legally separated, is there any reason I should not purchase real estate with another person?
I have been legally separated for a year. The divorce will probably not be final for at least another 6 months. I would like to move on with my life and purchase a house with my beau. Is there any reason that my marriage would make the home purchase a bad idea?
Asked on August 27, 2012 under Family Law, Pennsylvania
Answers:
David Martin
Answered 11 years ago | Contributor
In Pennsylvania, property acquired after seperation is not marital property that the Court will divide as part of the divorce...Equitable Distribution. The purchase will certainly raise questions as to whether the source of your share of the purchase price came from marital funds and your need for alimony...ie you have enough money to buy new property, you have no need for alimony. Please make sure you have an Agreement with your beau on the realty. What happens if you split? What percentage do you each own? Who pays for what while selling property, etc. etc.
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