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Real estate valuation is key in many property division issues

On Behalf of | May 20, 2016 | Divorce

One of the more common questions that occurs when a couple divorces revolves around who is going to keep the marital home. For some couples, that is only one piece of real estate that has to be considered. We know that you worked hard to purchase the real estate you and your ex own. We will work hard to get you a property division settlement that provides you with a good settlement so you can start your new life.

When it comes to the real estate that is being divided, there are several different things to consider. One thing that you must determine is the market value of the home. This figure gives you a starting point about the value of the home. Once you know the market value, you must determine how much, if any, is owed against the property. The amount that is owed against the property is important because it can significantly impact what the house is actually worth.

Another factor that we must consider when we are trying to determine how property is going to be divided is the upkeep costs for the property. This is important because if the upkeep costs are high and you are trying to live on one income, those costs might be more than you can handle. In that case, we would need to try to find a creative solution to the problem so that the property division doesn’t actually cause more stress once the divorce is finalized.

Various types of properties have different considerations. We can help you to learn about how rental properties, vacation properties and other properties can be handled during your divorce.