Options regarding a residence during divorce

On behalf of Law Office of Ann A. Thomson, A Professional Law Corporation posted on Friday, April 19, 2013.

California spouses who are considering divorce may not know how to handle one of their largest assets, their house. California spouses who are involved in high asset divorces may have several options regarding their primary residences, including staying in the residence, dividing the residence or selling it and splitting the profit.

Real-estate agents who are seasoned in selling a family residence that has been affected by divorce may be helpful in this scenario. These agents may be able to provide advice regarding how to best take advantage of tax breaks regarding capital gains after selling residences. These agents may be better equipped to deal with cases that involve spouses who do not want to see each other or who are barred from seeing each other due to restraining orders. Other agents may help buyers navigate through a home that is currently occupied by both spouses but in separate wings of the home.

If buyers are aware that a house is being sold due to a divorce, they may be more likely to bid low, thinking that the couple is desperate to get out. An agent may counteract a buyer’s belief that trouble is brewing by rearranging closets to compensate for the extra space left by a spouse who has left the home. Some agents may even suggest that the spouse remaining in the home buy extra clothes that his or her spouse would wear.

California divorcing spouses may opt to hire individual attorneys. Having a person who is seasoned with divorce cases may offer valuable experience to divorcing spouses. Taking this step may help if one spouse wants to retain the property or is concerned that the other spouse may sabotage attempts to sell the home.

Source: The New York Times, “After the Breakup, They Help Sell the House,” Elizabeth A. Harris, April 1, 2013

From offices in Seal Beach, the Law Office of Ann A. Thomson serves clients throughout Southern California in communities such as Seal Beach, Santa Ana, Brea, Yorba Linda, Fullerton, Corona Del Mar, Costa Mesa, Newport Beach, Irvine, Laguna Beach, Dana Point, Mission Viejo, San Clemente, San Juan Capistrano, Anaheim, Fountain Valley, Garden Grove, Long Beach, Huntington Beach, Norwalk, Torrance, Rancho Palos Verdes and Los Angeles.
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