During the course of a marriage, the typical married couple accumulates a wide variety of assets, from stamp collections to silverware. For most, the marital home tops them all for value, and its disposition is the most important consideration during the process of property division. Choosing what to do with it may not be easy, but for those who sell, specialized help may be available.
Thanks in part to the recent huge upswing in the real estate market, homes in British Columbia are selling for top dollar. While valuating their assets, some divorcing couples may discover their home is worth far more than what they paid for it. This may seem on the surface like hitting the jackpot, but it could actually be bad news for some people. It may be that the value of the home is too great to be balanced by the rest of the estate, or that neither party can afford to buy out the other party’s share. The only choice may be to sell the home and share the proceeds.
Selling a home can be stressful at the best of times, and a divorce is never the best of times. There may be conflicting opinions on how to handle the sale, or just general animosity bogging down the process. Because of the sensitive nature of such a transaction, some real estate agents now specialize in home sales for divorcing couples.
Whether two people going through a divorce choose to sell or keep their home, the task of property division is often challenging. Having someone with professional experience to help may be of great benefit. A British Columbia lawyer who routinely deals with this and other divorce issues will be there for any man or woman during this trying time.
Source: novuscorp.ca, “Realtors find a niche in clients who are getting divorced“, May 5, 2017