Legal Question in Family Law in Pennsylvania
Resolving Property Matters
I am seperated and my spouse is living in the house which is in both of our names. Can he "Buy me out? so that the house is in his name only. If that is possible, how would that work? Can this be done before we file for a divorce?
1 Answer from Attorneys
Re: Resolving Property Matters
The property interest may be sold before the divorce is final. However, it is best to have a written agreement. The problem is that the party selling will not be able to be released from the mortgage obligation without the consent of the lender. The Lender in all likelihood will not give its consent. The result may cause some difficulty to the party selling if they want to buy other property or obtain new credit. Seek the advice of counsel to consider all options.
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