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.