Buying Home During Divorce

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Summary

In Texas, property acquired during marriage is considered community property. You can buy your spouses share of the home if they agree, or the court may order its sale. Retaining the original loan and obtaining a second mortgage to cover your spouses equity is possible, depending on lender policies and financial circumstances. Refinancing before divorce requires both parties consent and lender approval. In an uncontested divorce, both the home and car are community property, and debts are shared. Consult a local attorney for personalized advice.

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Houston
In Texas, property acquired during marriage is usually considered community property.
- You may buy the house if your spouse agrees to sell their share to you.
- Court may also order the sale of the house.
Please consult a local divorce attorney for legal advice.
Would i keep same loan and get new loan to pay spouse their share?
In Texas, it's possible to retain the original loan and obtain a second mortgage to cover your spouse's equity. However, this depends on your lender's policies and your financial circumstances. Consult with a mortgage broker or financial advisor for guidance.
Wkuld i be able to refinance a home prior to divorce
In Texas, you can potentially refinance a home prior to divorce. However, this typically requires consent from both parties and depends on the lender's policies. It's recommended to consult with a financial advisor or attorney to understand the implications.
Looking for consultation to understand situation/ circumstances
It seems like you're considering multiple financial options. Are there any specific areas you're uncertain about, or do you have any particular questions about the legal implications of your situation? Answer: [Your response here]
We share a home, which we'd probably sell, but we habe a car that spouse drives, but under my name. How would that impact uncontested divorce
In Texas, both the home and car, acquired during the marriage, are considered community property. In an uncontested divorce:
- The car, despite being in your name, could be allocated to either spouse.
- If you sell the home, proceeds are typically divided equally.
Consult a local attorney for personalized advice.
So we share costs for car and and open debt?
Yes, under Texas law, any debt acquired during the marriage is typically considered shared debt. This includes car loans. However, how this is divided in divorce can vary. Consult with a local divorce attorney for specific advice.