NC divorce laws

[Lucky Dawg]

Originally Posted by KJMiller1965

I have a question...
My husband came to NC to work and I stayed in AL to get the kids through school, after a year of him renting in NC, it made more sence to buy a home there also, due to kid commitments amd whatever, I could not go to NC for closing so I signed a Free Trade Agreement for him to purchase the house in his name only. He recently died, am I still entitled to the house???
Thanks
Lost and sad

Ask an attorney, not random strangers on the internet.

[don6170]

Originally Posted by goldenage1

I had never heard of a "free trade ageement" allowing the purchase of a house.

It is called a Free Trader Agreement (with the R). It allows one spouse to buy a house during the separation period without the other spouse being able to claim interest. Blank forms are available from various NC divorce firms via Google Search.

[goldenage1]

Originally Posted by don6170

It is called a Free Trader Agreement (with the R). It allows one spouse to buy a house during the separation period without the other spouse being able to claim interest. Blank forms are available from various NC divorce firms via Google Search.

Thanks very much. It sounds like the wife certainly needs an attorney to review what is actually on the agreement. Whether they were only separated or actually divorced will impact whether she could inherit the house the husband bought.

[QuilterChick]

Originally Posted by KJMiller1965

I have a question...
My husband came to NC to work and I stayed in AL to get the kids through school, after a year of him renting in NC, it made more sence to buy a home there also, due to kid commitments amd whatever, I could not go to NC for closing so I signed a Free Trade Agreement for him to purchase the house in his name only. He recently died, am I still entitled to the house???
Thanks
Lost and sad

What does your post have to do with the subject of this thread? Which is, divorce law in NC. In NC you have to be legally separated for 366 days in order to get a final judgment of divorce. Seems like the year and one day has expired IF you had a separation agreement that was not finalized.

Were you married or divorced when he passed away? Contact a NC divorce attorney in the County where he was living.

[BoBromhal]

Originally Posted by don6170

It is called a Free Trader Agreement (with the R). It allows one spouse to buy a house during the separation period without the other spouse being able to claim interest. Blank forms are available from various NC divorce firms via Google Search.

this is pretty close, I imagine. What we colloquially refer to as a Free Trader Agreement allows separated spouses to allow the other estranged spouse to buy real estate in NC .... and exclude that property from their "marital assets" - in other words, to say "hey, the ex is buying that home and it is his and his alone and I have no claims to it".

Now, I also readily admit that I've never heard of a circumstance like yours.

That's where the importance of whether you had a RECORDED separation agreement in place, and where that agreement might be - NC or AL? Because anecdotally, I would imagine in NC, that property immediately reverted to you so long as you're still legally married and he hasn't drawn up a new will (but that's just a bit of dramatic speculation on my part).

And recently, I heard one of the very best residential real estate attorneys I know proclaim "there is no such thing as a free trader, it hass to be in the separation agreement itself".

In other words, use your divorce attorney in AL, or engage an attorney in NC, to do what you're going to pay them for - determine the reality. If you want the info of that attorney I mentioned, just pm me. He's in Wake County, but the applicable laws should definitely be state-wide

[HP91]

Originally Posted by BoBromhal

this is pretty close, I imagine. What we colloquially refer to as a Free Trader Agreement allows separated spouses to allow the other estranged spouse to buy real estate in NC .... and exclude that property from their "marital assets" - in other words, to say "hey, the ex is buying that home and it is his and his alone and I have no claims to it".

Now, I also readily admit that I've never heard of a circumstance like yours.

That's where the importance of whether you had a RECORDED separation agreement in place, and where that agreement might be - NC or AL? Because anecdotally, I would imagine in NC, that property immediately reverted to you so long as you're still legally married and he hasn't drawn up a new will (but that's just a bit of dramatic speculation on my part).

And recently, I heard one of the very best residential real estate attorneys I know proclaim "there is no such thing as a free trader, it has to be in the separation agreement itself".

In other words, use your divorce attorney in AL, or engage an attorney in NC, to do what you're going to pay them for - determine the reality. If you want the info of that attorney I mentioned, just pm me. He's in Wake County, but the applicable laws should definitely be state-wide

Dealing with NC real estate transactions for the last 20 years or so...the highlighted quote would not be surprising to me. Many folks that move into NC aren't familiar with the "what's mine is yours" mentality because of what other states allow.

I don't recall the KJ stating that they were separated, maybe I missed that...but if not, you are being disingenuous. But it may not make a difference, because of the NC real estate laws about being married. It doesn't matter whether he bought the house on his own or both of you signing...if you are married, what ever he has in real estate in NC is yours too.

[don6170]

Originally Posted by BoBromhal

And recently, I heard one of the very best residential real estate attorneys I know proclaim "there is no such thing as a free trader, it hass to be in the separation agreement itself".

I just went through this, and was specifically advised by my divorce attorney (who has 20+ years experience in NC) that I needed the separate Free Trader Agreement to be able to purchase a house during the separation period.