Going through the marital dissolution process is often a stressful experience. One of the major points of contention among divorcing spouses is how to handle the family home. Here are a couple of options for addressing the family home during a divorce in New Jersey.
First, one individual may wish to keep the house and live there or even rent it out. In this situation, he or she can buy out the other party. The other option — the most commonly pursued one — is for both parties to sell the house and then split the proceeds between themselves.
If the two parties decide to sell the house, it is paramount that they choose a real estate agent who has some experience with divorce situations. The reason for this is that the agent should ideally be comfortable with handling two conflicting spouses during the real estate transaction. This means being able to serve as a neutral third party and offering both parties reasonable advice regarding the transaction.
Getting a divorce can understandably be difficult, especially when real estate and other high-value assets are involved. However, if two divorcing spouses can find common ground when it comes to splitting these types of assets at the negotiation table or during mediation, they can avoid further court intrusion. An attorney in New Jersey can provide a divorcing spouse with the guidance he or she needs to confidently and competently navigate the division of real estate and other kinds of property during the marital breakup process.