Free Trader Agreement


#1

My spouse and I have been living separately for over 2 years. We do not have a legal separation agreement in place. Spouse wants me to sign a Free Trader Agreement so spouse can purchase a home, I am in the home we jointly own. From what I’ve read I should not do this until we have a separation agreement in place. Is this correct?


#2

The free trader will just allow your spouse to purchase real property without you obtaining any marital rights in the home. It won’t affect any marital property that you already own. Generally a free trader isn’t signed until property division has been addressed, if your spouse is eager to purchase a new home, you may be able to use the free trader as leverage. For instance, you could refuse to sign until an agreement has been executed.