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Property division in divorce: selling your home

On Behalf of | Sep 11, 2020 | Property Division |

When people in Connecticut decide to divorce, one matter they often have to contend with is what to do with a shared home. For some, this means selling it, which may be unfamiliar territory. Fortunately, experts have advice for people in just this situation and how it can affect property division in a divorce settlement.

Whether two spouses work on this issue together or not, it is a good idea to determine exactly what the desired outcome may be. This can greatly influence the timing of selling the home, which many experts say should happen before the divorce settlement is finalized. Both parties need to consider the tax implications of selling the home in comparison with the entire plan for the division of assets, as one person may end up with a huge tax bill.

It may also be a good idea to ask prospective realtors how they deal with divorcing couples. Some may not have that experience and not handle the matter accordingly. That being said, the two parties will have to work to not put the realtor between them. They also should not be upset if the realtor suggests maintenance or upgrades to help the house sell, as most homes require some work before going on the market.

Many people with kids assume that having to move will negatively impact children, but experts say the move usually isn’t as big a problem as the overall changes taking place. This is especially true if one spouse attempts to use the sale of the as home a way to get back at the other spouse. If that temptation appears, experts say that thinking about the future and keeping one’s new life in mind can help.

Selling a house requires professional help, just the same way that the overall legal process of divorce benefits from experienced legal assistance. When property division is a necessary part of divorce, a family law attorney may be the best person to handle that aspect. Those here in Connecticut considering ending their marriage may want to reach out to an attorney who can answer questions and provide ongoing support.