Whether you are selling a home during a divorce or buying a home, every divorce is unique and has it’s own challenges. Working through your divorce with a skilled and experienced divorce attorney can help reduce a big challenge to a small problem with a quick resolution.
One of those potential challenges people face during divorce is selling a home. If you are thinking about selling a home during a divorce here are some things to consider:
First, understand that if either spouse moves out during the divorce process, it will not impact whether the house loses community property interest. However, it does mean having to plan ahead as to paying mortgage, insurance, and taxes. Community property refers to property owned jointly by a married couple. Remember if property is held as community property, each spouse technically owns an undivided one-half interest in the property.
Second, understand the agreement set by you and your spouse before considering selling a home. This is where it gets complicated because of the Standard Family Law Restraining Orders that goes into effect as soon as the divorce petition is filed. These restraining orders generally prohibit a sale lacking a written agreement or a court order. The easiest way to sell the house during a divorce is through a written and signed agreement between the spouses that then becomes a court order. Effective legal representation is important so remember to speak to your family law attorney about the terms that fit your needs.
Third, you can consider other options. One would be to ask the court for an order to sell the house before the divorce trial. You would need a very good reason such as: selling the house during divorce because of the threat of foreclosure or selling the house during divorce to pay for attorney fees and costs. The reason the court would grant your request under these circumstances is because a house is only an asset. The family court does not attach any emotion to it. Hopefully, one or both of the spouses will move diligently if such issues arise, as a foreclosure or financial instability are rarely in either spouse’s best interest.
If you are unsure of your situation about selling your home during a divorce, Contact Thorsteinson Law Group to help you with understanding the processes. We provide complimentary consultations, and are dedicated to helping you.