Planning on purchasing a home with partner-both him & I separated from spouses, but not legally divorced.

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Planning on purchasing a home with partner-both him & I separated from spouses, but not legally divorced.

I have been separated from my spouse for 16 yrs, partner has been separated from his spouse for 2 yrs – neither of us divorced. we would like to buy a home together (my partner & I). Would spouses have any legal rights to the property we purchase together?

Asked on June 1, 2009 under Real Estate Law, California

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The solution is easy.  You need to set up a limited liability company where you and your partner are 50-50 partners in the LLC.  You will buy the property in the name of the LLC.  While you may have to personally guarantee a loan, this is separate from your spouses.  Plus, you will be able to manage the LLC without your spouses' knowledge or involvement.  The only issue is that you may have to claim this as an asset when and if you file for divorce.  However, you will have to deal with this issue regardless.  I suggest having a lawyer draft up an operating agreement and set up the LLC - this is not that expensive and is very important.


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