Bernie Stephan, Eco Realty - Managing the Real Estate in a Divorce

CHAPTER 3 Marital Settlement Agreement eement

One of the most effective ways for divorcing couples to move forward is to separate emotions from the sale of the home and approach it as a business transaction. Since the marital home is often the largest asset in a marriage, it also carries the greatest financial risk. Careful consideration must be given to securing settlement terms that protect both parties, particularly the spouse who is leaving the home. When drafting the marital settlement agreement, your attorney should clearly define financial responsibilities, including who will cover the mortgage, homeowner’s insurance, utilities, and maintenance costs. Establishing these terms upfront helps prevent future disputes and financial complications.