A client asked if she can get a loan and buy before her divorce is final.

Asked by TeamKane Realty & Mortgage, 92128 Sat Apr 26, 2008

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Larry Story, Agent, Greensboro, NC
Sat Apr 26, 2008
Well in NC what she would have to do is to get her soon to be ex to sign off on the fact that she can move forward with any real estate transaction and he would have no rights of ownership. It is a right to transact outside of the marriage. Consult a real estate attorney. Here it is a standard agreement that is used fairly often since there is a 1 year mandatory seperation for a no fault divorce. They must not live under the same roof so someone usually has to move out and if they can financially do so they buy their own home and it is considered to be a transaction that is not a tenancy by the entirety which in North Carolina is all married couples real estate transactions.
So of course it also depends on the state you reside in.

Larry Story
Coldwell Banker Triad
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