Tuesday, July 15, 2014

What Happens To Your House While You Are Legally Separated?

What do you do when you own a house with your spouse, but you aren't yet divorced? Depending on the state you live in, you may have to stay separated for awhile, and you are stuck paying a mortgage on a home that you do not inhabit. This may seem frustrating, especially when you are not on the best of terms. The following article explores the difficulties and options of this particular problem.

If you’re buying a home for yourself, your spouse would have to sign a quit claim deed releasing their interest in the property you are buying since you are still legally joined with that person. The key is that the spouse must consent to releasing their interest in the transaction.

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