Mortgage lenders require parties to sign a free trade agreement that is an agreed right to buy freely (i.e. without interference) (i.e. trade). Mortgage lenders lend money to buy a home that is theirs when they separate the loan. They do not want to share ownership of the house with the surviving spouse (who is not required to pay mortgages). The objective of a free trade risk is for the spouse who does not purchase the house to agree to give it up, including inheritance and/or survivor rights. As a general rule, registered in the deed registry office, these contracts specify that the spouse who buys the house is exclusively him or her, even though he or she is married. Since the ESTV is a contract, both parties must voluntarily agree to sign it. A free trade agreement is, in principle, a document drawn up for the purpose of waiving the estate rights of each party (and all other marital rights that, in most cases, relate to a separation agreement) with respect to real estate and the creation of a right to the acquisition of real estate independently of the other before the divorce. In the absence of a free trade agreement in North Carolina, a legally separate party, but who has not yet divorced his spouse, will not be able to acquire or divest real estate entirely and efficiently. When a divorce decree is issued, the other person is no longer a spouse, so the mortgage lender no longer has the problem of an ex who is still a surviving spouse, even if they were separated for a while when the house was purchased. However, in North Carolina, a spouse cannot even sign the divorce lawsuit that triggers the complaint until he or she has been separated for at least one year. As a general rule, when a spouse asks for a divorce, it takes another two to three months for the divorce decree to be issued.
If the other spouse refuses to sign a free trade agreement, the only recourse is divorce, which is almost impossible to challenge because it is based on a one-year separation. This may not be a great thing, but the registration costs can be quite high for a long document, and more importantly, it is not recommended that most people have exposed their personal lives so that the whole world can look inside posterity. Anyone can access your entire separation agreement if the entire document is registered. If you and your spouse are separated but not divorced, you may need a free trader agreement before buying or selling real estate.