Can you buy a home while still being legally married?

Answer 1

It depends what state you live in (i.e. whether it's a community property state or not), as well as how the house is titled.

AnswerUnless there is a legally documented separation notice posted (like in a news paper) that states He or She will no longer be financially responsible for or associated with their spouse, the spouse will own 1/2 of the house.

Maybe.

Property acquired during the marriage in a community property state would be considered jointly owned but not so in non community property states, where the titling determines ownership.

A legal separation is as binding as the actual dissolution, a voluntary separation is not.

The purpose of a separation agreement is to finalize the distribution of assets and property and custodial issues.

A matter such as the one cited would have to be decided by the judge who rules on the dissolution petition.

Property purchased or assets received by a spouse after a legal separation has been validated are not considered jointly owned whether the estranged couple live in a CP state or not.

The best option is to consult a qualified attorney before taking any action on the matter.

Answer 2

As long as they don't use marital property to acquire the separate property.

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before you venture into more debt, the best thing to do is go ahead and finalize the divorce. When you are legally separated, lenders may question your income and assets because separated is not divorced. Your credit may show that you are overextended because it will show you as married. Do you have a marital home that has to be liquidated for settlement purposes? That is money that could help you buy down your interest, etc. Lot of things to consider when you are not yet divorced. Seek financial counseling first and discuss starting the divorce process before you jump into anything. You are not yet totally free!

Answer 3

Yes, you can, but it is not wise. Even if you are legally separated, you are still married and any assets that accumulate during the course of the marriage are subject to distribution in the divorce. Your spouse is going to be an owner of this house regardless of whether or not his name is on the title or loan. Wait to make any legal decisions, purchases, etc. until you are free and clear from your spouse -because you never know what he might be entitled to according to the laws of your state.

Answer 4

Usually, a mortgage company is going to check credit that belongs to both you and your husband and may also require both signatures on any mortgage agreement. If you can get your husband to sign on to a mortgage and deed the property solely to you...go for it! Otherwise you would be wise to wait to make any major purchases until the divorce is final and your personal financial situation is stable.

There may also be an issue of "marital assets". If you buy a home while still legally married, it may be considered joint property, regardless of who is on the mortgage agreement and deed.