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Home value can affect property division in divorce

On Behalf of | Sep 12, 2013 | Divorce |

In many cases, unhappy couples postpone filing for divorce for years after a marriage becomes untenable. While each couple has their own reasons for delaying the process, many feel that they have little choice, based on an inability to successfully sell their family home. When the real estate market makes a profitable sale unlikely, many spouses choose to wait for an improved resale market before filing for divorce. Fortunately, improvements in the Georgia real estate sales climate have made property division an easier process.

As stunted resale statistics continue to climb, many believe that divorce filing rates will also increase. Many couples who have put off ending their marriage will move forward, now that they are assured that selling their home will be both possible and profitable. Once an appraisal and comparative market analysis have been completed, spouses will be better able to negotiate the disposition of their family home.

In some cases, one party will retain ownership of the house, and will either buy the other party out of the property or negotiate the transfer of other assets to even out the agreement. However, many couples will decide to sell the home and divide the proceeds. This is often a simpler transaction, and allows both parties to move forward with a fresh start.

Georgia couples who are considering filing for divorce and are concerned about how the sale of their home could influence that process should make an effort to sit down with an attorney and learn about their available options. In many cases, the process is far easier than feared. As with any large-scale financial decision, the best course of action when considering divorce and property division is to move forward fully informed.

Source: Orlando Sentinel, Divorce and home values: Till equity do us part, Mary Shanklin, Aug. 30, 2013


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