Selling a House During a Divorce?
So, You’re Going Through a Divorce And Need To Sell Your House
Well, selling a house during a divorce really doesn’t have to be as bad as most think, as long as both sellers are on the same page that is! Often times this is really the big issue when it comes to problems with selling your home during a divorce. It’s important to first understand how assets are divided and the history of the house acquisition. Things can change depending on when the house was purchased and if you were married before or after the purchase, or even where you live.
Who Gets The House In a Divorce?
So who gets the house in a divorce? Well, it can depend on several factors. Do you live in community property state or equitable distribution state? Is it marital property or separate property?
What Is Marital Property? Marital property is anything that you acquired or earned while married.
What Is Separate Property? Separate property only belongs to one spouse, but it depends on what state you live in for how it will be treated.
What Is a Community Property State? This is where basically anything you acquired during your marriage will be split 50/50, with a few exceptions. The community property states include Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
What Is an Equitable Distribution State? In the other 40 states assets are split fairly, but not necessarily evenly. This is appointed by a judge depending on several factors including income, financial factors, etc..
Understanding Your Options
Most people don’t really know their options and how it really works. Now depending on the factors explained above, it’s important to be on the same page with your spouse. Once a divorce is filed it can make things trickier to sell the house, as now the sale would be dependent on a court order from a judge. If you can work together for the betterment of your futures, you can save time and money by selling the house before the divorce is filed.
Divide Large Assets
Co-Own a Divorced Home
Sell The Home Together On Market and Split 50/50
Each option has it’s pluses and minuses so it really depends on your situation and relationship, on which way to handle the sale of the house during a divorce. It’s very important to take a little time and understand what would be required going with each option. Selling your house during a divorce can tough for many, however you have the ability to make it easier on yourself and your spouse by approaching things in the right way.
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If you are selling a house during a divorce, we understand there might be a lot of emotions involved. There’s a good chance you need to just sell quick, with as little hassle as possible. Over the past few years, more and more people that are going through a divorce have decided to sell directly to a cash buyer, like us. We buy houses in Dallas Fort Worth, TX and have helped tons of sellers just like you sell their house during a divorce. Give us a call or fill out any form on our website to get your cash offer today.