You will have to have your stbx’s permission to purchase a home in your name alone prior to absolute divorce…quit claim I think it’s called.
Assets aquired after the date of separation are considered separate. You would not be required to divide them. Nor are you responsible for any debts incurred after the date of separation. The date of separation should be the when all marital assets and debts stop increasing also.
as far as what you already have, you can divy that up anytime you want. Usually the divorce will have a date everything should be done by, but there is no set time to take what is yours.
The separation agreement is implemented as soon as it is signed, however sometimes it may have a while to complete all the required transfers. Some agreements specify a longer time period for the completion of certain acts, such as refinancing a residence.
Until you are divorced you cannot purchase a home in your own name unless you have signed a separation agreement or your Husband has signed a free trader agreement. If you use marital funds to purchase a home, then you will have to account for that money when the marital estate is divided. If you purchase the property in both names, he would have an interest in that property.
Helena M. Nevicosi
Attorney with Rosen Law Firm
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Raleigh, North Carolina 27607
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My question is two fold.
Once we separate and come up with a settlement agreement, do we then implement it? I.e. divide up our assets, sell our house, whatever… or do we wait until the divorce is final (in one year). If we do divide up everything when we first separate, what happens to assets that are acquired during the year long waiting period? For instance, if I purchase a house, will I have to then split the equity of that house with my soon to be ex-spouse? Thank you for your time.
Evelyn Wilkerson