Good morning, I have a signed and notarized separation agreement. Since I will be buying another house to move into, how do I go about filing a memorandum of the separation agreement please? Also, what is a free trader clause?
Thank you.
The memorandum can be recorded at the register of deeds, and should include free trader language. The free trader allows you and your spouse to purchase real property before the date of divorce, without either of you having any rights in the property. Feel free to look at our sample Free Trader Agreement.
I just signed my separation agreement and it includes the memorandum of agreement with free trader clause. Do I need to record this with the Register of Deeds if I refinance the mortgage?
Thanks.
Your full separation agreement likely has a confidentiality clause in the standard provisions section that prohibits the full separation agreement from being recorded with the register of deeds.
If so, and if needed by your new lender, then you would need to have a memorandum of separation agreement drafted (a short version which does not list all of your property, assets, accounts, debts, etc.), both spouses would need to sign it, and the memorandum would be recorded instead.
Anna Ayscue
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here
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 only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.