Going through a divorce can be stressful, expensive, and physically and emotionally exhausting. When there are children and assets involved in a divorce, the stress is even greater. If you are selling your home during a divorce, this decision requires careful consideration and planning.
It is also a decision that should involve the advice of an experienced New Jersey divorce attorney such as Anthony Carbone, serving Newark and Jersey City, New Jersey. For more than 25 years, New Jersey divorce lawyer Mr. Carbone has helped residents in and around the area sell their homes during the dissolution of their marriage, and he can help you, too.
Real estate is typically the largest asset involved in division of property in a divorce. Real estate may be comprised of your main home, vacation homes, rental units, and commercial or investment property. Starting with the home you and your spouse actually lived in and shared, the worth of the home and property must be determined accurately so equitable distribution can be decided. Some part of the house (or what is inside the house) may be exempt from being distributed to one spouse. Relevant factors involved in the division of assets, such as your home, include but are not limited to the following:
- Date of marriage
- Date of purchase of the property
- Amount of down payment
- Source of mortgage payments
Another consideration is a home or property that is bequeathed to one partner prior to, or during the marriage. If the home in which you and your spouse lived was inherited by one of you, the other spouse may not be entitled to any part of it.
Hudson County divorce lawyer, Mr. Carbone, will guide you through the complex distribution laws of the state of New Jersey and explain what you are entitled to if your home is sold during your divorce. One option that is often recommended is for both parties to move out of the house and sell it before the divorce is final. However, our Newark divorce lawyer Mr. Carbone really cannot advise you here until he actually meets with you and hears the details of your assets and separation from your spouse.
If you live in Newark or Jersey City, New Jersey and need the advice of a divorce lawyer in Hudson County because you are selling your home, please contact the Law Offices of Anthony Carbone, P.C. today to schedule your confidential consultation with our divorce attorney in New Jersey.