Divorce is complicated, both emotionally, financially, and legally. One of the most complicated issues when it comes to divorce is dividing real estate. Many spouses do not want to be the one to move, and furthermore, even if they are legally required to move, additional matters regarding real estate and homeownership can become increasingly complicated. For this reason, our experienced California divorce attorneys have compiled the following list of common real estate mistakes that couples often make in divorce so you can avoid making these mistakes and put your best foot forward.
- Not removing the spouse who moves from the deed. In many cases, after a divorce, spouses will look to become co-owners of the home. However, this is not always the best option, as it can often lead to serious legal or financial issues in the future unless the divorce agreement clearly states who is liable for certain parts of a property. If these provisions do not exist in your divorce agreement, it is generally best to remove the spouse who moves from the deed.
- Failing to sell the house. In many cases, as long as both spouses can agree upon selling the home, splitting the profits, and going their separate ways, selling the house is a great idea, as the profits from doing so can provide each spouse with a cushion going forward.
- Trying to keep the home even if you cannot afford it. While we understand that homes are far more than a place to live, the truth is, we have seen too many spouses try to fight for homes that they simply cannot afford to keep. By doing so, you are being unrealistic, and you are only setting yourself up for further complications in the future.
- Neglecting to make mortgage payments on the home. This is absolutely one of the worst decisions anyone can make. This will wreck your credit. Additionally, do not fail to continue keeping up with the home during the divorce process, as doing so may severely limit its value in the long run.
If you are getting a divorce, the bottom line is that you must retain the services of an experienced Los Angeles divorce attorney who can coach you through each aspect of your divorce and advise you on the best way to proceed when it comes to your real estate. Our firm is here to help.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.