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To rent or sell a property during holidays and time it will take to sell
8 posts on this thread and the last post was on December 14th, 2004 4:59 AM by marie
giannina - December 14th, 2004 9:18 PM

Hello, rnI had recently bought a property below market value because it was a fixer upper. Now that it's fixed, I figured I could sell it and get a 20% return on the investment even if it is my first purchase. It is the holiday season ...would it be best to try to sell in the next month and get more money to invest in another property or rent out the property for a year or two...please advise

[email protected] - December 14th, 2004 6:34 AM

You always want to get legal advice from a divorce lawyer.
As a mortgage professional I will tell you the only able to have rights to the property will be the person's name on the deed. Any judge will see that it was purchased outside the marriage with isolated income but if you would like to conceal your ownership consider putting title in name of a trust to conceal your assets.

Good Luck to you

Fred - December 14th, 2004 9:33 PM

Though I will not give you advise as to your specific question, I will say names on Title..not Deed..are the property owners. The Deed is just a vehicle for recording a Lien against the Title. In Florida, your spouse will have rights to any property you own or purchase until the divorce is finalized and will be required to sign the title at closing. You should consult a local Realtor in the state you wish to purchase a property for additional guidance. And, as always, since what you are asking is a legal question..consult your local attorney (Real Estate or Divorce). Good Luck!
www.fredtomaro.com

Fred - December 14th, 2004 9:42 PM

Correction to my last statement...The Deed one type of vehicle for transferring Title and the most common used but Title can be transferred other-ways which is why I said Title conveys ownership.

Morgan - December 19th, 2004 2:00 AM

Thank you all of these are helpful.

SmartWomen - June 26th, 2006 1:03 AM

I'm filing for a divorce and have 2 children. My spouse has his pre-marriage house. I would like to buy one, but just seperated how do I go about it? Thx..I live in MD

joe - August 4th, 2009 6:04 PM

buy

maria - September 27th, 2009 10:23 PM

I was in a similar situation. I live in Florida and had filed for an uncontested divorce the day I received notice that the seller's bank had decided to close on the short sale I had been waiting for within two weeks. I hired a real estate attorney who drafted a durable power of attorney stating that my current husband had no claim on the house and so forth. He signed off an notarized it and I was able to purchase the house.

marie - November 12th, 2009 12:43 AM

Can you buy a house while you are getting a divorce and pay cash for it

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