Getting Divorced & Selling Your House – What You Should Know

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Statistics show that in the United States, over 50% of marriages end in divorce. It is never an easy decision to split up with your husband or wife, as they are someone who has been a big part of your life and you will face a lot of upheaval and changes in the months following your divorce. While you may share happy memories, you also share property and assets that will need to be divided upon dissolution of marriage. This will not always be a straightforward and easy task.

In particular, when it comes to selling a house, divorce proceedings can become complicated. A home may be the most valuable asset that is shared between spouses, which can lead to disagreement on its value and division, leading to what seems like irreconcilable differences.

The Importance of Divorce Attorneys

One way to make divorce proceedings and selling your house that little bit easier is through retaining divorce attorneys to look out for your interests during the process. Unfortunately, divorces can get ugly and when there is money involved in property, it can bring out the worst in everyone. Divorce attorneys have the knowledge and experience to guide you through the process and make it as painless as possible, as well as ensuring that you receive the just division of your assets.

Equitable Division of Property and Assets

In the State of Minnesota, the law is different when it comes to property and assets during divorce. The law requires what is known as ‘equitable division’ of property and assets, which means you are not automatically entitled to one-half of your property. This is not to say that you and your spouse won’t reach an amicable decision to divide your assets equally, but in some cases divorces can turn nasty. This is when divorce attorneys have the expertise to help ensure you get everything to which you are entitled.

Division of the Martial Home

If your house is described as the ‘marital home’ and was acquired during the marriage, then you will normally receive half of the equity in the property after the divorce proceedings, even if your name is not on the title deed. Divorce attorneys will help to inform you of your rights, how the law works and what is likely to happen to your property.

There are several steps to follow in order to sell the house to a buyer. This will involve listing the property for sale and it is essential that every aspect of that listing is made in joint agreement with your partner. This means arranging any work that needs to be completed prior to sale and how much the asking price will be. When an offer comes in for your home, both of you must be in complete agreement before accepting the bid.

Non-marital Property

When it comes to deciding what is non-martial property, divorce proceedings can get complicated and this is when you’ll need the expertise of experienced divorce attorneys. If a home has been acquired by one spouse prior to the marriage through purchase, inheritance or as a gift, a portion is usually deemed non-marital property. Houses may also be excluded from divorce proceedings by a valid prenuptial agreement. However, complications arise when this property has increased in value during the marriage or if the property has been used by a business belonging to a spouse. Divorce attorneys have the know-how to advise on complicated matters and help get the assets you deserve.

While getting divorced and selling your house can be difficult, hiring divorce attorneys can make the process easier.

About Elizabeth A. Schading

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