Real Estate and Divorce
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Going through a divorce can involve massive transformations in a person’s life and the life of their family. One of these usually will involve assets held by the parties. If you have a home, there are going to be some big decisions ahead. Will the house be sold? Will one party be allowed to stay in the home? This is often the case if there are minor children involved. To clear all the confusion related to this, you should seek the help of a professional San Jose real estate settlement lawyer.
Property issues can be complicated by other aspects of a divorce. If one party is going to stay in the home, a question that will arise is whether they can afford to stay in the home if the other party moves out and takes their income. Spousal support and child support are additional factors in this math equation in determining if one party can stay in the home. The party that wishes to remain in the home will have to pay for mortgage, utilities and repairs on the home and so it can be very tricky financially to make this happen. Hence, it can be a good move to use the expert services of a qualified San Jose real estate settlement lawyer to remain at a beneficial situation.
For some, the carrying costs of the home will not be a problem moving forward. For others, they simply will not be able to afford to live in the home with just one income and support. This can be further exacerbated by the need to provide the other person with any equity that may exist in the home during the divorce.
Often times, these calculations will result in the home being sold through the divorce process. It is an unfortunate part of divorce, and efforts can be made by a certified San Jose real estate settlement lawyer to work around these realities, but that also requires both parties to work together in these cases.
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