Divorce Shield Article #2 – Real Estate & Your Divorce

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Distinctive Homes Main Line is proud to present our second in a series of articles to help people facing divorce.

Your home may be the largest single asset of your marriage. Given its fiscal and emotional value, it may become a point of serious debate in your divorce. It is important to understand both your economic realities and legal rights before making any major decisions.

One’s property is an asset and can be subject to division. Since every state is different, it is strongly encouraged to check to see if your state has a property division law. Practical considerations, not the law, often dictate 1) who keeps the home, 2) terms of a buyout, and 3) if the home must be sold to a third party. You will want to know what percentage of your home belongs to you, as well as whether the courts can order the house conveyed to you or to your spouse.

Don’t let the stranger in a robe (a judge) make your decisions. Ideally, the decision regarding the house should be based on mutual agreement (without court intervention), but only your divorce attorney can appropriately advise you given your specific circumstances and your state’s law.

Courts often see a fair share of argument over the marital home. The property is usually very valuable, a visible asset, and has emotional ties to most members of the family. Also, if you have children, their needs are yet another factor to consider about keeping or selling a home. There are many good reasons in keeping your home: constancy for the children, emotional attachments, and sometimes even the convenience of the location are all very important.

It is best if you can work it out (on your own) before a judge gets involved in any personal business regarding what to do with the house and other property. There are many options with regard to dividing the assets and property, so that no one individual walks away the big winner. Usually, the best end-result is that property is divided in an affordable and equitable manner.

These Real Estate considerations for divorce are not meant to be a complete list. If these considerations, together with all of the other considerations mentioned in this article, seem a bit overwhelming, the good news is that you do not have to handle these changes alone. There are Divorce Shield Advocates, such as Real Estate Professionals in your local area, who are trained to help guide you through this crucial process. Real Estate Professionals, part of the Divorce Shield Advocate Network, are happy to assist you with comparative market analysis, data of current home sales, and a expert insight on the selling or buying process. These elite individuals are dedicated to serving you during this difficult time of divorce.

With Divorce Shield, your access to professionals is unlike anything else available in the United States. With help from your network of advocates, the advice you receive can be invaluable. To give you peace of mind, they can help you with all of your Real Estate needs, and help you meet your goals no matter what the future holds. By working with Divorce Shield’s network of advocates and completing your FREE Divorce Shield Plan, you can have the Clarity, Control, and Confidence to make wise decisions that will benefit you for years to come.

About the author of this article: Trevor Erion is the President of Source Realty and is a licensed Real Estate Agent in Oregon. Trevor can be reached at [email protected].