Divorce Property Division Tip #1: Try to Come to an Agreement without Court Intervention
It’s always best to come to an agreement with your spouse regarding selling the home, no matter how difficult it might be. If for whatever reason the two of you can’t come to an agreement, the court will intervene and determine what they feel is reasonable for both parties. This may or may not work in your favor, depending on the circumstances.
Divorce Property Division Tip #2: Get Your Agreement in Writing
As much as the two of you might have loved and trusted each other up to this point, people can have a dramatic change of heart during divorce – especially when emotions are running high and there’s a lot of money on the line.
It’s smart to agree on how you’re going to divide the value of your home and get in writing in your divorce agreement. This way, you are both held accountable by the court to uphold your end of the deal and no one has to worry about any last-minute problems. In fact, once your divorce petition is filed, the court will typically prohibit any sale of the family home until you’ve filed a written agreement.
Divorce Property Division Tip #3: Discuss How You Will Sell Your Home and the Associated Costs
Selling your home is often a drawn-out process that requires you both to agree on several important decisions, such as whether or not to hire a realtor, which realtor to use, how you split the expenses related to selling your home, etc.
If you choose to sell your home through a realtor, you will most likely have to invest some money fixing up your home and getting it ready to show to the market. You want to discuss how these expenses will be divided and put it in your written agreement.