MANAGING THE SALE OF THE MARITAL HOME
If the spouse occupying the marital home is responsible for listing, showing, and selling the property, the other spouse may still be obligated to contribute to mortgage payments and home maintenance costs. If the occupying spouse fails to make a reasonable effort to sell the home, the marital settlement agreement should include a clear timeline for the sale. Additionally, it should outline contingency plans in case the home does not sell within a specified period or if one spouse fails to meet financial obligations. Consult your attorney to establish appropriate contingencies tailored to your situation. Additional expenses—such as repainting, landscaping, or replacing appliances—should also be addressed in advance. The agreement should provide guidance on how to handle unexpected issues that arise during the selling process, such as structural problems discovered in a home inspection. Ex-spouses may agree to share expenses for a set period before the home is sold, but quick, emotionally driven decisions can lead to financial pitfalls. By maintaining a businesslike approach and focusing on the goal of selling the home, both parties can move forward more efficiently.
REASONABLE AND REALISTIC EXPECTATIONS
The marital home is often the most valuable asset in a divorce, making its division a major source of contention. If additional properties—such as vacation homes or rental properties—are involved, they will also need to be valued and factored into the settlement. Whether the property division follows an equitable or equal split, determining an accurate market value is essential. Several valuation methods can help assess the worth of the marital home. These approaches, commonly used in property settlements, may differ from a homeowner’s personal perception
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