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What are property negotiations all about?

| Jun 23, 2021 | Family Law |

Married couples going through a divorce have a major issue to consider during property negotiations.  What is going to happen with the house?  Should they sell it or allow one partner to keep the house and take over payments? 

Look at the pros and cons

What is right for one couple may be wrong for another couple.  Events in each marriage may be different.  The relationship may be friendly and businesslike; or it could be a series of explosions for another couple. 

Each couple should sit down with their lawyers and discuss what is best for each of them.  For example, one couple may decide that selling their home before the divorce is finalized makes sense for them.  Another couple may experience difficulty with this, which means their lawyers may need to guide their clients through each discussion and decision-making process, especially if they don’t want to cooperate with each other. 

Starting a new life with sufficient funds

Post-divorce, both members of the former marriage have to start over anew.  This means they may need to find a new home, either to rent or purchase.  In this example, selling their former home before their divorce is finalized means they will be able to leave the marriage with a significant amount of cash in the bank.  If the home sells for $200,000, the judge may rule that each spouse receives $100,000. 

Divorcing spouses should work with each other to sell before the divorce

Couples who are going through a divorce should be able to work with each other, but this may be difficult for them.  If they and their attorneys have decided that selling before the divorce is best for them and any children from the marriage, the anger or resentment one spouse may be feeling may drag the process out. 

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