Buying Second house prior to filing

boatlife44 · 2024-02-10T14:52:43+00:00

Any lawyer worth their salt will tell you not to obtain new assets prior to divorce. The judges main duty is to split assets.

The saving grace for most is the courts typically look at assets you had on or before the filing date.

BUT the judge can defer from typical protocol at his will, or at least it was that way in my case.

f-this-im-out · 2024-02-10T14:46:32+00:00

Read up on "free trader agreement". That's the way to protect your interest in a new property while still married.

FUMoney · 2024-02-10T14:18:50+00:00

The “prior to filing” part could be problematic. If the other side wants to screw around with your new house, they can. It probably won’t be very successful, but, do want the stress, time, and money wasted on such a stupid thing that could have been avoided?

So, don’t give them ammunition. At minimum wait until you have filed for divorce, served your spouse, and your divorce petition is at issue in court.

upvotersfortruth · 2024-02-14T02:53:33+00:00

Can I liquidate my taxable brokerage account and pay cash for a fixer up house prior to filing?

Yes, but ... well, talk to your lawyer - but she has a few ways to thwart this plan - the main one being forcing the sale of the house and splitting the proceeds. Remember, she's still entitled to half of the equity in the new house and old house (presumably). So your 200k equity in the old house may just compensate her equity in the new house or part of it - devaluing how much you have to buy her out of your pension. If she'll even agree to be bought out of your pension, you may need some more liquidity available to do that depending on how much it's worth to her and who her lawyer ends up being.

Is it beneficial to buy prior or wait until I file?

After you file, many states have what is called an "automatic stay" which is basically an order prohibiting either party from engaging in any transaction outside of the "ordinary course" of business. So unless you're an active real estate trader, liquidation of an asset to purchase real estate might get you in hot water.

Title	Buying Second house prior to filing
Author	Heavy_Guitar_4848
Upvotes	3
Comments	4
Date	February 10, 2024 2:09 PM UTC (2 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/1anh58r/buying_second_house_prior_to_filing/
Archive Link	https://theredarchive.com/r/Divorce_Men/buying-second-house-prior-to-filing.1245035 https://theredarchive.com/post/1245035

Comments