Has anyone attempted to co-own or share property purchased while married? I am going to be divorced soon, and it is mutual decision, we are so far having a decent seperation with no problems. While we were married, we bought a lake home, and my soon to be ex wife, asked if we could continue both owning the lake home, and both use it on weekends vacations with our daughter. Does anyone have any warnings, experiences similiar. Thanks for the answers.
2007-03-05 02:13:53 · 5 answers · asked by ? 3 in Family & Relationships ➔ Marriage & Divorce
Since you're having an amicable divorce, there's no reason not to continue to share the property, and I'm sure that your daughter will feel better because she's able to still go there with each of you. Kudos to both of you for acting like responsible adults during your divorce!
2007-03-05 02:31:54 · answer #1 · answered by grandm 6 · 0⤊ 0⤋
Personally, I would feel it would be a mistake to continue to own joint property together as once divorced the relationship between you and your wife will most definately change. Spending weekends together on weekends at the lake can only confuse things and inhibit the will to move on. As far as if this can be done legally, I believe it can. Your divorce attorney must include this into the divorce agreement and have it signed by both parties. Remember, there will have to be mutual agreement regarding who is to pay the taxes on the property, the maintanence, also, if there will be limitations as to what visitors will be allowed to use this vacation home as well. In other words, what would your feelings be if your wife decided to one day invite a male friend to spend the weekend at the lake house. You both need to think about all of this before deciding. Best of luck in whatever you both decide to do.
2007-03-05 02:52:53 · answer #2 · answered by pictureshygirl 7 · 1⤊ 0⤋
If you truly believe both side will play nice as far as shring costs and repairs, scheduling, etc. I see no reason why it cant work. If you look ahead however there is the potential for both of you to remarry unreasonable people. It might be good to seek the help of a lawyer to construct an amicable "way out" of the arrangement in the future. Just so there are no surprises.
2007-03-05 02:20:36 · answer #3 · answered by Devdude 5 · 0⤊ 0⤋
You had better have everything in writing! You need to have every detail worked out in the event she changes her mind and wants it sold. Who will get the property on what dates? Who will be responsible for upkeep? Who pays the property taxes? If it is to be sold at a later date how will the profit be split.
I would be very careful on this one. The intention is good but you need to protect yourself!
2007-03-05 02:23:13 · answer #4 · answered by Anonymous · 1⤊ 0⤋
your just going to have to use it like a time share property and set dates in which you both will be using it
2007-03-05 02:19:41 · answer #5 · answered by kat_luvr2003 6 · 2⤊ 1⤋