Menu
Quickly selling your home and easily separating assets could be exactly what you want in order to make divorcing smoother, but splitting marital property can take serious time and effort.
Oftentimes, divorcing couples experience financial difficulties and may owe too much on their mortgage by the time they commence the divorce proceedings. Stopping foreclosure by selling your home in as little time as possible could be a make or break situation. But being desperate to close a deal can do little to help attract an offer.
When it comes to dividing the profit from selling real estate in a divorce, things generally move along faster when the divorced couple is working towards the same end result. But if your ex-partner has a different idea of what to do with the matrimonial house, selling quickly could be much harder.
Your credit may be at risk after the divorce property settlement even if you don’t live in the house. Should your ex-partner have trouble keeping up with mortgage payments, you could get the short end of the stick if the correct steps aren’t taken.
When trying to sell your marital home, have Huntington Beach Cash Home Buyer on your team. As a highly experienced real estate investor who services homeowners in Huntington Beach, CA and the surrounding areas, we can solve complications for you and put the profit you’re due in your hands soon.
You don’t have to worry about finding funds to pay for home improvements, and you also don’t have to wait for repairs to be made before you can sell. We’ll take your home off your hands in its current condition.
Our real estate transaction can be over and done with in a flash. With us, you can sell your rental property or family home in 3-30 days with no stress.
Because the offer presented to you comes with no strings attached, you’re clear on what you stand to gain at the end of our transaction. We never bother homeowners who sell to us with any expenses or fees!
We do the work so you can sell without having to take care of paperwork, property defects, or debt attached to your home. We can handle negotiations and any necessary repairs ourselves so you can simply collect your splittable profit.
Regardless of the divorce decree, you can short sell your house. If the divorced couple and the lender are onboard with selling the property for less than the debt’s amount, they may even be able to have the rest of the amount erased. Because short selling can be complex, you may prefer to sell your property easily to a real estate investor.
In a situation where your ex-spouse let the house go into foreclosure but your ex doesn’t want to short sell, a partition lawsuit can be a way to stop your credit score from taking a hit and force the sale.
Though it may seem counterproductive, bankruptcy could offer temporary relief. Because you’re given 15 days to file for a Chapter 13 repayment plan, you have over 2 weeks to either negotiate or sell your home.
While it may not seem so at first glance, getting a grasp on capital gains tax can be fairly simple.
If you jointly file your tax return before divorce, you and your partner receive a $500,000 deduction. If you sell after divorce, then the amount is split so you and your ex receive $250,000 per person.
With that said, other rules apply in specific cases such as if your property was gifted or held in a trust, or in instances where one spouse is a nonresident alien.
In California, the rules of a community property state apply. This means that while it is possible for one spouse to sell without the other’s consent in some cases, both parties must agree to sell a Californian property bought during the course of a marriage because such a residence is considered jointly owned.
But there are exceptions to this rule. If you inherited the house during your marriage or were gifted the home, your residence is separate property and can be readily sold.
To know if you and your ex need to be in agreement before the property can be listed, check your ownership type and deed.
Regardless of your reason for wanting to sell the property without your former spouse’s consent, you have the option of filing a partition lawsuit. It is important to remember that this course of action is expensive, and the court may not order a sale if your motives aren’t compelling.
If you have a joint mortgage or if only your name is on the mortgage and you don’t live in the house, your former partner missing mortgage payments could lead to you being affected by foreclosure after divorce. Should your ex refuse to sell, petition the court to order a sale.
A lawyer can help you get your name off the mortgage. Whether you have a joint mortgage or if the mortgage is only in your name, you could pursue a court ordered sale by showing the court that your ex can’t or won’t refinance the mortgage or assume the loan though it’s required by the divorce decree.