Harrell Stoebner & Russell PC | Attorneys at Law

Offices Located In Temple And Killeen | Se Habla Español
Call To Schedule A Consultation: 254-935-3036

Harrell Stoebner & Russell PC | Attorneys at Law
Call To Schedule A Consultation: 254-935-3036

Due to precautions related to COVID-19, we have expanded our options for remote consultations. Please contact our office to discuss whether a full phone consultation or video conference is appropriate for your situation.

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Is it possible to buy a house while going through divorce?

On Behalf of | Oct 10, 2022 | Family Law |

One common concern people have when ending a marriage is where they will live when they part ways with their spouse. Often, spouses will live separately leading up to a divorce, which may leave some individuals considering purchasing property even before a divorce is finalized. While most prefer to wait until all the papers are signed to make such a major purchase, there are some ways that it may be possible to buy a house sooner period. Here are three questions Texas individuals considering a home purchase prior to a finalized divorce need to ask in order to proceed. 

Will my spouse be willing to sign a quitclaim deed?  

Since Texas is a community property state, it is necessary to have one’s spouse agree to waive any community property claim regarding the purchase. Legally, this is accomplished by the signing of a quitclaim deed. Without this document, the new home may be considered community property to be divided during the divorce proceedings, even if it wasn’t purchased with that intention.  

Does my spouse hold any debt that could impact my mortgage amounts?  

Debt to income ratio (DTI) is a key metric used by lenders to calculate mortgage amounts. Prior to a divorce being finalized, debts held by a purchaser’s spouse will likely be factored into this calculation. This can lower the amount a lender is willing to offer. 

Do I have a final separation agreement?  

Lenders will likely ask for a separation agreement and/or property settlement agreement if they are to consider the pending divorce in their approval process. Having this agreement on hand will be important to the purchasing process. Therefore, purchases should be made after a separation is final. 

Buying a house during a divorce is certainly possible with the right set of circumstances, but it is a bit more complicated. The financial circumstances of one’s spouse as well as the spouse’s willingness to support the purchase through a quitclaim deed are key factors in whether or not this is a possibility. Individuals with legal questions about purchasing a home during a divorce could benefit from speaking with an experienced Texas family law attorne

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