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Ely
Ely, Counselor at Law
Category: Legal
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I live in N.E. Wisconsin, i am in the middle of a divorce,

Customer Question

I live in N.E. Wisconsin, i am in the middle of a divorce, everything is agreed upon, all paperwork has been submitted but unfortunately there has been a few small errors that i have had to fix with the paperwork the last two times i have submitted and they call me to come correct them and resubmit, i think it is all correct now and i should be issued a final court date. My question is that i would like to purchase a home i have found but am unsure if the divorce not bieng final yet is going to complicate the divorce proceedings?
Submitted: 1 year ago.
Category: Legal
Expert:  Ely replied 1 year ago.

Hello and welcome to JustAnswer. Please note:This is general information and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

Yes, it may. While the spouse is not required to sign a deed/mortgage a purchase in Wisconsin, the lender will likely want to have her sign a release (quitclaim deed, actually) stating that she has no interest in the property, and/or, gives all her possible interest away.

This way, she cannot have a claim to the property in the divorce.

While only a precaution, until/unless the divorce is finalized, most lenders would require this.

I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how I get credit for my time with you. Rating my answer the bottom two faces/stars or failing to submit the rating does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Customer: replied 1 year ago.
1) What is the proper name for this quitclaim document you are talking about and is this something i could do on my own or should i obtain a lawyer?
2) If i were to purchase the home before the final hearing, and not list it in the marital settlement agreement would that be a problem?
3) If i go ahead and purchase the home before the divorce is final, how do i prove that there was no shared accout or co-mingling of money used to purchase the home?
Expert:  Ely replied 1 year ago.

1) What is the proper name for this quitclaim document you are talking about and is this something i could do on my own or should i obtain a lawyer?

Your lender should provide a copy in some cases. It is actually called QUITCLAIM. Example HERE.

2) If i were to purchase the home before the final hearing, and not list it in the marital settlement agreement would that be a problem?

Yes if she does not quitclaim. This way, she can try to re-open the case for the property.

No, if she quitclaims.

3) If i go ahead and purchase the home before the divorce is final, how do i prove that there was no shared accout or co-mingling of money used to purchase the home?

This goes back to account records, and simply depends on bank statements, etc.

You are very welcome. Good luck, and please don't forget to RATE my answer in one of top three faces and then SUBMIT – it is the only way I get credit for my time with you – or, please use the REPLY or SEND button to keep on chatting – I want you to be satisfied.

Expert:  Ely replied 1 year ago.

Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question. I am simply touching base. Let me know. Thanks!

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