during a divorce. What needs to be done to ensure a quick and profitable sale? Who will choose the Realtor? When is the best time to list a home? Who bears the financial responsibilities of the sale? You can proactively allay your fears and clear up misconceptions by doing your due diligence and researching what to expect throughout the selling process. That’s why I’m here, to hopefully shed some light and offer insight into the thousands of questions that are dominating your every waking moment. Every divorce has a unique set of circumstances. This book is not intended to be a legal guide or to dispense legal advice, but rather to provide you with a source of information regarding the sale of your marital real property. Knowledge is power, and by familiarizing yourself with some real estate terminology and options, you will gain a better understanding of your situation and confidence in that, indeed, "this too shall pass". Let’s dive in. Some states are known as "community property" states and others are defined as "equitable distribution" states. Community property States follow the rule that all assets acquired during the marriage are considered "community property". There are nine community property States: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Alaska is an opt-in community property state that gives parties the option of making their property community property. The remaining 41 States follow the laws of equitable distribution, which means property acquired will be divided between the spouses in a fair and equitable manner. The court determines who receives what based upon a variety of factors, such as the relative earning contributions of the spouses. In community property states, on the other hand, all income and assets earned or acquired during the marriage are considered to be equally owned. This applies to all debts, no matter who created the liability. In a divorce action, these will be
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