If my wife and I are separating and most likely divorcing, should I be willing to buy a condo in my/her name for her to move to or is that a mistake?
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If my wife and I are separating and most likely divorcing, should I be willing to buy a condo in my/her name for her to move to or is that a mistake?
This is after 12 years of marriage. She has had an affair that she admitted to and now wants to move out and take the our 2 kids with her. We own a house and now she want to buy a condo to move in to. Problem is that she cannot buy this condo without me signing for it, since she needs me to get the loan and so on. Should I do this for her or am I running the risk of getting myself into some serious financial issues? We want a clean divorce, but doing this seems like a bad choice for me. I do not even want the divorce; I am willing to forgive her and go on.
Asked on May 25, 2012 under Family Law, Ohio
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
I think that you should go with your gut instinct on this and hold off buying the condo. You are just incurring more debt and you really gave insight in to what could happen upon divorce: you will be on two loans and still responsible because she will not be able to refinance you off the loan. Work on things if that is what you want to do. Good luck.
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