Legal Question in Family Law in Virginia

money lost if we sell now

My wife and i have been seperated for 7 months and have a 22 year old son together. I live in the marital home. We both would like to get a divorce but we would like to keep the home and sell it later, hopefully when the real estate market picks back up. Can we divorce and still own property together.

Asked on 5/26/07, 5:18 am

2 Answers from Attorneys

Fred Kaufman Fredrick S. Kaufman, Esquire
0 users found helpful
0 attorneys agreed

Re: money lost if we sell now

You can own a house with your ex-spouse but you would own it as two private individuals instead together as a married couple. You had better trust the other. You each would have 50% rights to buy, sell, mortgage, lien the house without the other's permission. The agreement has to be specifically drafted to protect each parties' rights. You need an experienced domestic attorney to do that.

Good luck.

Read more
5/28/07, 12:22 pm
Michael E. Hendrickson Attorney & Counsellor at Law
0 users found helpful
0 attorneys agreed

Re: money lost if we sell now

Yes, after your divorce, you could hold title to the property together by what is known as tenants-in-common, as opposed to tenants by the entireties, which is the way a married couple typically holds title to real property.

Read more
5/26/07, 7:57 am

Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in Virginia

Looking for something else?

Get Free Legal Advice

8807 active attorneys ready to answer your legal questions today.

Family Law, Divorce, Child Custody and Adoption Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Terry A. NelsonNelson & LawlessRiverside, San Bernardino, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now