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It's whatever you and your wife agree to. The plan you suggest is not unusual--I've known families that worked out similar arrangements. As long as your wife agrees it's not a problem. Though, you need to get it in writing as part of your separation/divorce agreement with the help of a lawyer. Keep in mind that things change, and the written agreement will help resolve any questions or problems that will come down the road. Consider, for example, if your wife remarries or a boyfriend moves in with her--how will that affect your arrangement? What if she wants to move to a different house in 5 years?
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