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‘We’re not in a great position to make things interesting’: My soon-to-be ex-husband is planning to buy a house before our divorce


Dear Quantin,

My husband and I have been married for 21 years in California. We have filed for divorce. We need to work with our mediator to determine the final settlement. We still have to wait six months before anything is finalized. We are not in great condition so things can be interesting.

I found out that he was planning to make an offer in a house. I don’t think it will be used as a cash payment to him unless he uses his investment or retirement account. He has terrible achievements. I honestly don’t know how he plans to stop it unless he has another borrower help him, a girlfriend or a family member.

If he probably goes through buying this house with someone else, am I still entitled to half here? What if he uses his retirement or investment account? I know I own half of it. Any advice on what I should do in this situation?

No-yet ex-wife

You can email The Man with any financial and ethical questions about coronavirus at qfottrell@marketwatch.com and follow Quentin Futrell Twitter.

Not yet dear,

If your husband uses marital funds – money earned during your marriage, which comes from a retirement or investment account – you will have a claim on half or half of this property and half of any increase. I would warn him to make such a deal and, as a general rule, warn you to pay too much attention to secondhand information. This would seem to be a reckless and foolish move on his part. It is illegal to conceal marital assets before divorce because of the “automatic temporary restraining order”.

According to Bremer, White, Brown, and O’Mayara: “A spouse who wants to buy a home must: give at least five working days’ notice before buying another spouse; get the other spouse’s written consent, or, if it fails, a court order; and to purchase Be prepared to disclose all information and documents used, including down payment and mortgage, application and application, sale agreement, and source of funds used for closing documents.

Trying to make such a purchase during a divorce can be awkward. In this 2016 case in Fresno County, a divorced man tried to buy a home before his divorce was finalized and claimed that his then-girlfriend agreed to take possession of the property and then agreed to return the property to him at the time of the divorce. Completely, however, the verbal real estate agreement is not applicable. So guess what happened next? His girlfriend refuses to let him leave the property, insisting that the money he paid to buy a property is a gift.

Instead of waiting for your husband to make a big mistake, it would be more rewarding to give him a fair warning – take what you hear as true – and avoid unnecessary and costly legal fights down the street. Divorce is an emotionally taxing and turbulent time for most couples, and people don’t always act properly or even in a way that usually conforms to their normal character. Remember the way you dress, do a favor for yourself and speak up.

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See Moneyist Personal Facebook Group, where we are looking for answers to the most difficult money problems in life. Readers write to me with all kinds of hesitations. Post your questions, tell me what you want to know more about, or consider the latest semantic columns.

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