Jordans Team Elite II Divorce Decisions Regarding

Pros
? Should I sell the family home or other properties?
? Do I keep it until the children are grown?
? Should I keep the home and buyout my soon to be ex-spouse, or vice versa?
? Can either of us afford to keep it after the divorce?
? What are the long term consequences of keeping the house?
2. What are the questions people need to ask themselves about when making decisions about their real estate matters?
3. What are the most common choices and the pros and cons of each?
A.) Selling outright and splitting the equity:
In working with clients, I find that these are typical issues and concerns when it comes to matters of divorce and real estate decisions.
1. What are the key factors about real estate and divorce that someone divorcing should be aware of?
? Identify of the type of real estate and the type of ownership interest you have in any properties. Do you own a primary residence? What about a vacation home or investment properties in addition?
? What is the ownership history of your real estate? How is the title held? Determine if it is marital (owned jointly) or separate property (property owned by one party prior to the marriage and kept in their name is separate property,[link widoczny dla zalogowanych], although they may have to split any gains in value that have occurred during the time of the marriage.)
? How long have you held these properties? This is necessary to know in figuring capital gains taxes and possibly state taxes.
? What debts,[link widoczny dla zalogowanych], such as loans and tax liens,[link widoczny dla zalogowanych], does the property have?
? What are the plans you must make to pay for and maintain the real estate during the divorce and afterward? Don’t forget to calculate the costs of any pending repairs, taxes and insurance.

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