Can a Free Trader Agreement be put in place when still married (i.e not separated?) and be valid in future if and when separating?
I and my wife have grown apart. While we do care for each other, our interests and life goals are different. Instead of mess of dealing with property separations and kids etc, we are looking to still collaborate as friends and partners and continue with current investments we have which are income producing with an options of separately utilizing the respective shares of the “future” revenue or proceeds of real estate transactions to our own needs and necessity without other having any say or control on each others share and such. Hence the questions above.
You can enter a free trader agreement during the marriage and it can be valid in the future, but in the future if either of you goes to buy additional real property, you may need to re-execute a free trader agreement that is specific to that particular real property. Note that free trader agreements only apply to real property.
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.
Thank You Ana for the quick response. This is for Real Properties. Can agreement be written generic for any future RE properties…rather than for each transaction?
Yes it can, but a specific one may still be needed in the future.
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.