Q: My Husband and I signed a sales contract to build a new house in June 2019. We separated 2 weeks later but were not
able to cancel the contract. He is going ahead with the mortgage by himself and I will not be named on the property deed. I believe he intends to live in the new house rather than sell to avoid capital gains tax. I am not intending to claim anything regarding this house in the divorce but am I liable for anything?
A: Unless you are on the mortgage you likely won't be liable for anything but anytime real estate is involved, it is best to have a separation and property settlement agreement. If your spouse is agreeable, a separation agreement would protect you both and is quite affordable. Our firm drafts full comprehensive separation agreements for a flat rate fee of $250 for most average couples.
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