I have had several clients that have gone through the process of Divorce.  They purchased their home before they got married.  Then things didn’t work out.   They ended up in court battles over the distribution of funds from the sale of that property.  In one case it took my client 15 months to get it through the legal system.  Then could purchase a home.  If you are in this situation ALWAYS check with your attorney before you try to purchase a new home.  There are many legalities that you may not be aware of in purchasing a new home prior to settlement.  I ran across this article that explains this process for the residents of the State of Georgia in the Daily Report powered by Law.Com.

Don’t Leave Your Clients in the “Lerch:”  Understanding Transmutation of Property in Georgia

Ever since the Georgia Supreme Court decided a home on Skidaway Island qualified as marital property in the notable Lerch v. Lerch case in 2005, estate planning attorneys, wealth and investment advisers, certified public accountants and other professionals working with married couples have had to proceed with extreme caution with the advice they bestow on their clients. As Georgia is an equitable distribution state, all property in a divorce will be categorized as either separate or marital. Most advisers (and clients), however, don’t think twice about pooling bank accounts or putting both spouses’ names on home deeds. Yet what happens when the lines of ownership become blurred? This issue is at the core of many legal battles, and advisers should be armed with information as they counsel their clients in areas dealing with ownership of property or assets of any kind.

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Looking to buy or sell a home?

Contact us and we will be glad to help.  If you are wanting to get an idea of the Fair Market Value of your home, we can provide a free Comparative Market Analysis.  Looking to Buy?  We will be glad to locate active properties with your criteria in the area you want to live.  Looking for answers in the above type of situation?  Call your attorney.  Your attorney will be able to give to the most current legal advise for your situation.