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Divorce Property Division – Who Gets To Keep The House And Other Assets?

In most cases, spouses own property in common during a marriage. Typically, this includes any assets that both people acquired during their marriage and that they share in both of their  names. Certainly, a house is one of the biggest assets. Other assets could include vehicles, bank accounts, savings plans, and even electronics. Splitting up assets can get messy in some divorce situations.

Who Owns the House After A Divorce

Since both people  probably need a place to live, ownership of a home can get complicated after a divorce. In the best case, the couple can agree which spouse should get to keep the house. In some situations, one spouse might even agree to buy the other out. For example, one  spouse might keep the house and the other spouse will agree to accept a savings or retirement account for compensation. In other situations, the divorced couple could retain joint ownership, but one spouse might live in the house as the other spouse lives  elsewhere.

Very often, the spouse who will have the highest burden of childcare might keep the house. If the home isn’t fully paid off, the couple also has to agree about who makes future mortgage payments. Besides mortgage payments, there are other costs
of owning a home. This include taxes, property insurance and maintenance. These burdens have to be taken care of or the house will lose its value and may even incur liens and penalties. If one spouse plans to live with children most of time, judges are certainly  going to lean towards awarding that spouse with the home that the children are accustomed to living in. That way, the kids don’t have to get uprooted from their neighborhood and their schools. Typical judges prefer to disrupt the children’s lives as little  as possible.

However, it isn’t always true that the spouse who has the most custody of the children will get the house. There may be some situations when it is better for the children to move. If the two people can agree to ownership in some sensible way,
the judge will probably accept the agreement. If they can’t agree, the case may go to moderation. If moderation doesn’t work, it may have to go before a judge in court.  The stronger the disagreement, the longer it will take to settle the dispute. The process  is also likely to run up more charges.

How To Avoid Disputes Over Property In A Divorce

There is no hard and fast rule about who gets to keep a home and other assets. Since most divorcing couples don’t have a lot of experience in the subject of splitting up  assets, they may need help to work through this. Typically, divorce attorneys understand how the law usually works and can provide some guidance. Each spouse will have their own attorney to offer suggestions, make certain that all assets have been uncovered, and to look out for the best interests of their clients.

Jeremy Johnson is the author of this article and is a real estate enthusiast.  He has written content for dozens of real estate and related sites around the world and  is publisher of http://realestatecompanies.info/

How to Sell Your House Quickly in Divorce or Empty Nest

During divorce, the marital home may be put up for sale with both parties splitting the proceeds. A quick sale that takes place before the divorce is finalized is ideal. Our house sold a few months after we got our divorce decree and I insisted upon having our solicitors distribute the money from the sale. We had at least one meeting with them after our divorce, until the sale of the house.

Here are some easy and quick ways to increase your chances and speed of selling your house after divorce during this transition.

  • Select a realtor with a great track record for finding buyers for newly listed property. The average time in the UK for a house to sell is four months. In London and the South East of England, property tends to sell quicker, often under two months. It can take six months or longer in Wales, Scotland, and the Northern part of England. How fast the property sells depends upon the demand in your area. My solicitor chose our realtor due to speedy property sales with her previous family law clients. She was in a big realty company with a vast network.
  • Buy faucets to update your house or flat and give it a newer appearance. My friend had to sell her house soon after her divorce decree to relocate and hired a plumber to replace the faucets. She felt that these shiny new ones got her house sold in days. Getting new toilet seats, shower curtain or other small items, aids in sprucing up the property for minimal cost.
  • Get rid of clutter and many personal items. Have a home for incoming paper work, books, toys, and so forth so they are not scattered around. Take a large bin or laundry basket and thin out books from shelves and clothes from closets. Store boxes and bins at your parent’s house temporarily. The point is to make your home look spacious by removing a lot of your stuff. When eliminating personal photos and travel souvenirs from your place, it helps potential buyers to imagine how their own things will look in this new home.

Quick & Fast Pot Roast

People rave about my pot roast, so I am embarressed to tell how simple it is to make.  I buy a package of the already cooked pot roast at Trader Joe’s. I open the package and slice it into about 6 or 10 pieces (what ever your preference is) after removing any large pieces of fat. I marinate it in about 1/4 cup olive oil, 1 Tablespoon of worcestershire sauce, 1/4 cup of soy sauce, 2 bay leaves and sprinkle with other herbs, such as marjoram, basil, rosemary and thyme.  Herb mixures for grilled meats, Fine’s herbs or Herb’s de Provence make this easier.  I cook it at 350 for around 10 minutes, really until the meat becomes hot. This pot roast is tender and juicy.  Sauted mushrooms make a nice accompaniment, with mashed potatoes on the side.
In the winter, for more of a stew, I cook the pot roast the same way. While the meat is in the oven, I cook a bag of root vegetables for the stew, plus saute fresh mushrooms and combine everything. A salad , bread and mashed potatoes  make a nice meal for company of just family. Bon Apetit!