5 Reasons to NOT Buy a House During Divorce


As if you need more fear with buying real estate in this market, here is one more thing to think about…you should avoid buying a house during a divorce.

1) Dower Rights: Your spouse must sign off on any house purchase because of dower rights. Dower rights are property rights that one acquires when their spouse purchases real estate during the marriage. If you fall in love with a house, you may be pressured into a bad divorce decree so your spouse will sign off on the sale. Save the heartache, wait until divorce is over.

2) House May Not Belong to You: If you make good decisions in purchasing real estate and put cost growing improvements in the house, your spouse can be entitled to half of the increased value of your new house.

3) Court Can Order Your House Sold: The Court must divide marital assets and debts equally. A house that we purchased without the magic words and gavel bang ending your marriage is marital property. The Court could order the house sold to equalize property, debts or pay your spouse’s attorney’s fees.

4) Loans Can Be Problematic During Divorce: Never good to find the perfect house just to have financing fall through. Most banks want to know permanent spousal and child support figures before approving a loan. Even if financing does go through, not knowing permanent support figures could make paying the loan problematic.

5) You Might Not be in the Right Mind Set for a Large Purchase: Stress affects your ability to make a decision. Divorce = stress While going through the long process of divorce, to start over, redefine yourself, and prove yourself to your ex, you may buy a house you regret later. Best to sit back after the divorce, relax, and reflect on which residence will be best for your next chapter.