SOME QUICK FACTS ABOUT DIVORCE AND YOUR REAL ESTATE:

How you hold title to the real estate may determine, in large part, what interest you and your spouse have in the real estate. Most married couples own property as tenants by the entirety and each spouse has an undivided one-half interest in the property. A divorce ends the ownership in tenancy by the entirety. Joint tenancy is similar to tenants by the entirety except that the owners are usually not married to one another. In joint tenancy and tenants by the entirety, if one of the owners dies, the deceased person's interest passes to the other owner by operation of law. Another way of holding title is as tenants in common. The interest owned by each tenant in common is divisible and can be inherited by the owner's heirs. This is customarily the way that unrelated persons, including divorced people, own real estate together. It may be the way that you and your ex-spouse own your real estate after the divorce.

Whether you and your spouse own Real Estate in tenancy by the entirety, Joint tenancy or tenants in common, divorce is rarely easy and often means a lot of difficult decisions. One of the most important decisions is what to do about the house. In the midst of the heavy emotional and financial turmoil, what you need most is some non-emotional, straightforward, specific information and answers. Once you know how a divorce affects your home, your mortgage and taxes, critical decisions are easier. Neutral, third party information can help you make logical, rather than emotional, decisions. Probably the first decision is whether you want to continue living in the house. Will the familiar surroundings bring you comfort and emotional security, or unpleasant memories? Do you want to minimize change by staying where you are, or sell your home and move to a new place that offers a new start? Only you can answer those questions, but there will almost certainly be some financial repercussions to your decision process. What can you afford? Can you manage the old house on your new budget? Is refinancing possible? Or is it better to sell and buy? How much house can you buy on your new budget?

HOW D'ALBERTO REAL ESTATE INVESTMENTS, INC. CAN HELP.

If you own a house or just bought one, and are in process of getting a divorce, you are probably already dealing with a lot of different challenges all at one time. Allow our team to come out and relieve some of your pressure by explaining to you some of our programs and how they work, and see if we can be of any assistance. All information will be kept strictly confidential within our company files. A closing can happen as fast as 72 hours. If you are interested in acquiring more information regarding our program, please click on the "for more information" icon below and one of our team members will contact you within 48 hours.

Index | Sitemap | Contact Us