ShouldI purchase a house before my divorce is final?
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ShouldI purchase a house before my divorce is final?
I have been legally separated from my wife for over 1 year. Our divorce papers have been signed for over 3 months and her lawyer has not filed them yet. I am currently renting a house but would like to buy a new house. Will my soon-to-be-ex-wife have any legal rights to the new house I purchase if I purchase it before the divorce is final?
Asked on July 19, 2011 under Family Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You probably should not purchase the home before the divorce is final, and you should *definitely* consult with a family or matrimonial or divorce law attorney before doing this. The problem is, you are still technically married at this point, until the papers are filed and everything is final. Therefore, a house you buy could possibly be considered a marital asset. Given that you'd be putting a substantial asset and significant amount of money at risk, it would not seem to be worth it to take this chance--you have a place to live right now, after all. If it really matters to you for some reason to be able to purchase earlier, then consult with your attorney first, to understand the risks and see if there is anyway to structure the transaction to reduce these risks. Good luck.
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