As a proficient New Jersey Divorce Lawyer, I often get questions from clients regarding real estate during a divorce. When parties are getting divorced and they own real estate, there is a lot of considerations. Who purchased the real estate? Was it owned by one of the spouses prior to the marriage, or was this a marital asset that the parties purchased together during the course of the marriage? Are the children involved, or are one of the children in high school and getting ready to graduate, so there’s a greater need for the spouse that’s going to retain primary custody of the children to stay in the marital home? Is the house underwater, meaning you owe more on the house than the outstanding mortgage, or is there a significant amount of equity in the home, and the parties need to cash out their equity in order to move forward in their lives? These are all important considerations when real estate is involved in a divorce that you want to discuss with your attorney so that you have many scenarios that you can play through that will work for your family post-divorce.
Have you had trouble handling real estate when getting divorce? Contact our professional New Jersey Divorce Lawyer for guidance.
This educational blog was brought to you by Tanya Freeman, an experienced New Jersey Divorce Lawyer.