Applying for Loan During Separation

Dear Elaine:

Greetings. If you have a free trader agreement, that will suit your purposes. Good luck.

Janet L. Fritts
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

301 McCullough Drive Suite 510
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax


The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.

My husband and I are physically separated and have split up our real and personal property without a problem. I realize I have put the cart before the horse, but I have chosen and entered into a contract for a new townhome. I understand now that the lender needs a copy of our legal separation agreement. Our separation agreement is written but it needs to be legalized. I do not expect a problem but I would like a Plan B.

When I apply for a loan (4 weeks), is there another document available for the lender to 1) relieve my Husband of any responsiblity for the loan and 2) to guarantee my sole ownership of the property that the loan is for?

I will have no problem qualifying for the loan on my own given the substantial downpayment I will put down from my share of net proceeds of our real property plus my ongoing salary.

Although I don’t expect a problem finalizing the separation agreement, I would like to have a Plan B.

Please advise. Thank you