Real Estate and Divorce
If you are like most people, your home is probably the most valuable possession you own. Not surprisingly, it can be a point of contention in a divorce. Real estate property can be difficult to divide during the divorce process, simply because it is so valuable. And more than just homes are affected; vacation property, second residences, investment property, and more can all make divorce a complicated process.
If you or someone you love is going through a divorce and you have concerns about real estate property, the San Jose divorce attorneys of the Law Office of Daniel Jensen may be able to help. Contact us today by calling 408-296-4100 to discuss your case with us in detail.
Dividing Real Estate Property
Generally speaking, there are three major concerns you’ll be concerned with concerning dividing your real estate property:
- Which spouse will get the real estate property in question following the divorce?
- Will the property split be equitable?
- Will the property be kept by the spouse, or sold?
California’s divorce laws strive for a roughly 50-50 share of the marital property, and in most cases, real estate property is community property. If you’re going through a divorce, you’ll need to discuss the practicalities of keeping a house versus selling it. If you decide to sell the property prior to your divorce, the money from the sale will probably have to be split with your spouse.
If you decide that one spouse will keep the property, a new mortgage will probably have to be drawn up. If the spouse cannot afford the new mortgage, the property will probably have to be sold.
Contact Us
If you or someone you love is going through a divorce and real estate is an issue, a San Jose divorce lawyer from the Law Office of Daniel Jensen may be able to help. Contact us today by calling 408-296-4100.
