They say life is a series of ever-changing events. Like many other New Jersey residents, you might be inclined to agree, except for that string of years that felt like it was lasting an eternity where everything in your marriage stayed the same. You and spouse had stopped talking, stopped being friends and stopped trying to resolve problems you determined long ago were not resolvable. Now that you're moving on in life, you might be concerned with numerous changes that are going to take place, especially issues pertaining to post divorce real estate.
Perhaps you've already decided that you're going to have to sell your house as well as downsize and find a new residence that is big enough for you and your children but not so big that the cost will send your finances into a downward spiral. If you and your spouse purchased your current home during your marriage, the court will consider it a marital asset that is subject to division. This may prompt decisions as to whether you want to sell out your half of the house to your spouse or both of you agree to sell it after your divorce is finalized.
Some people sell their homes during the divorce process, which can help spouses attain emotional closure but can also provide funds to have on hand when entering a new lifestyle. If only one of you is going to continue to reside in the home while it's for sale and you're preparing for divorce proceedings, you'll want to discuss whether the spouse that moves out will financially contribute to household expenses, such as utility bills, mortgage, etc. Regarding home sale profits, remember that New Jersey is an equitable property state, meaning the judge overseeing your case will decide a fair (although not necessarily equal) division of assets in your divorce.
When getting divorced and also wanting to sell a home and rent or buy new property, it can be a great asset to talk to a New Jersey attorney who is experienced in both areas. Diana Marin Law, LLC, provides free consultations to residents in this state who are seeking guidance and support for post divorce real estate issues. Relying on the same attorney for divorce guidance and real estate matters that stem from a marital break-up can streamline both processes and eliminate the stress of having to deal with multiple companies at once.
