Innovative Strategies
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Creativity during divorce...
Hello!
So I am currently going through a divorce, and because I live in PA, it is a community state. Buying anything before a divorce is final is risky business, so I'm thinking about a creative strategy that I can get started with since I'm not sure how long the divorce will be until it is final.
I thought about seeing if there is something an attorney could write up that my spouse signs that he "gives up" any right to properties I purchase going forward, but I don't know if that would stick with a judge.
I have a potential partner, and I am wondering if I can work it out with my partner to buy and hold the property in the partner's name only until the divorce is final and then add me to the deed. This obviously would need to be a legal agreement to protect me from getting burned on the deal as I will be doing the property management. The partner is the money.
Am I crazy for thinking this could work?
Any advice?