Can I buy a house with a pending divorce?

Can I buy a house with a pending divorce?

Can you buy the house while the divorce is pending, or must you absolutely wait until the divorce is finalized? You can purchase the house before you receive the divorce decree. However, if done improperly, you could make some serious mistakes that could impact your finances and affect ownership of the home.

Can I buy my ex out of the house?

To buy someone out of their share of a property, you have to work out their share of the equity. Typically this involved four steps: Get the house valued (the lender will do this, usually for a small fee). Ask your current lender for a redemption certificate to find out how much is left to pay on the mortgage.

How do you split up when you own a house together?

Understanding how the home can be dividedSell the home and both of you move out. Arrange for one of you to buy the other out.Keep the home and not change who owns it. Transfer part of the value of the property from one partner to the other so that your children have somewhere to live.

What happens if you split up and have a mortgage?

1. If you stop making the mortgage payments as a result of a relationship break-up, your lender will hold both of you liable and can pursue both of you for any arrears. The fact that one of you may have continued to pay ‘their’ share of the mortgage does not affect this principle.