Buy a New Home During Divorce

Divorce may be a very turbulent time within your life. You are separating from a spouse, emotions are running high and you must completely restart your life without your significant other. This event will typically include the purchasing of another home. When you buy a new home during a divorce, there are some tips and factors you should be aware of before pursuing this purchase.

There are various legal problems that can occur and cause serious complications of this situation. However, on average you should expect that any new home bought during a divorce with non-marital assets to be yours. But until the divorce is final, things can change in the blink of an eye! The answer can change if you decide to purchase a home with money that was supposed to be split during the marriage. Buying a new home during a divorce is probably not the best idea, especially in the midst of divorce proceedings because things are typically quite hectic.

However, if you are set on purchasing a home, then you should consult with your mediator or an attorney who is familiar with this matter. Things can get pretty ugly if you decide to use the money you have for the new home before the divorce is final, and you would hate to have to sell the home to get the money that you spent back. Trying to sell the home could take a very long time. A lawyer will be able to help you avoid any claims against your property by the divorce judgement.

The reason why it would be wise to first consult with an attorney is because anything that is purchased while two are legally married will be considered the property of both individuals. A lawyer may be able to get a preliminary order that will allow a home to be purchased while the matter is still pending. This will allow the property to be purchased without the former spouse being able to make a claim against the property, and will ensure clear title as part of the divorce agreement.

Another idea to think about when you want to buy a new home during divorce is how long you plan on living in the same city. Sometimes plans can change rapidly, especially since most people going through a divorce are very emotional, and do not make wise decisions because of the emotional state they are in. Most people when they divorce will want to find a new home far away from their former spouse, so it would be wise to wait until your emotionally stable enough to make good financial decisions. You don’t want to just jump on the first home you find just because you are upset or want to make your spouse jealous.

When a divorce action is pending, things can change in an instant! Some people will start their search for a new home before child support, debt payments, or other factors are decided. So make sure you wait until you are fully aware of everything you will be required to pay and the divorce judgement is final.

Finally, if you are dead set on buying a new home during divorce, make sure to clear it through the judge, attorneys of both employees, and finally get it all in writing. You must get it all in writing in order to avoid any legal repercussion.