Legal Question in Family Law in Massachusetts
buying ex's share of home
I grew up in house. Wife and I bought from my parents 23 yrs ago. Now divorcing w/ 13 yr.old Will let her stay in house but want to buy her share now.She thinks we can wait 5 + yrs. No way -Your thoughts
2 Answers from Attorneys
buying ex's share of home
I am not sure about your question.
From what I understand, she is saying that if she gets physical custody, then a court may let her stay. She may be correct. If this is an issue, this should be advanced in Court.
I am not sure if you are represented by an attorney. If not, you may want to consider this.
If you have any questions, or need assistance, contact me.
Re: buying ex's share of home
The time of purchase and occupancy terms can be set in a Separation Agreement. The usual way is to set a date for purchase and sale. A later purchase may involve a more complicated agreement, as the equity will have changed in the interim due both to additional mortgage payments and market factors. THus, the later purchase may include appraisal. In either event, there will be clear terms set in the Separation Agreement. The child's needs will determine occupancy, and thus most likely sales terms. You should consult a divorce attorney privately.