Sale Of Real Estate During Divorce: Issues To Consider

You and your spouse agree to sell the house (or other real estate) and divide the money from the sale 50%-50%. Here are some of the issues that come up in many divorces:

  • While the house is listed for sale, who can live there?
  • How will disputes over accepting an offer for the house be resolved?
  • Who will pay the mortgage, insurance, and taxes until the house is sold?
  • What if the roof gets a leak? Who will pay for that?
  • What does it mean to divide the sale money 50%-50%? What expenses and costs come out first?
  • If the house is not sold before the divorce is final, how should the house be awarded in the divorce decree?
  • Should the spouses remain “joint tenants” or each own half, as “tenants in common” or something else?

A good divorce attorney will ask about your situation and needs, and can advise you how to best protect your interests during a pending sale of the marital homestead.