During a divorce, it is important to take into account assets involved, which must be divided between the spouses. Real estate, for instance, is commonly disputed since it is where much of the shared assets relate to. So, if you are looking to find answers on resolving real property disputes, then read along to find out just what you need to know.
Getting Into Details
When analysing the best way to determine what should happen to real property after you and your spouse have divorced is by checking the date it was purchased. If it was bought before the marriage, then it is a pre-marital type of asset. Hence, it solely belongs to the spouse who bought it. Once both spouses have lived in it, though, during the marriage and it served as a source of income for the two, the house may already be considered as a marital assets. In this case, equal distribution is necessary.
One way to have a quicker and fuss-free division of real property is by selling it. Both parties should be able to agree on the amount or percentage of sales they would receive, just to eliminate any contentions. You can also consult an attorney for advice on this matter, so you will be better guided on what to do from the cash received after the sale. If this method does not work, the presiding judge will be the one to settle the dispute based on laws and facts. Keep in mind, though, that this sets aside the ability of both partners to come up with an agreement between the two of them. As a result, they may only leave unhappy after the decision of the judge comes out.
In other cases, you may think about the amount of money both spouses have contributed when buying the property. If the other person gave out a higher percentage at the time of purchase, then it is only fair that he or she receives a higher amount after the sale. This is a practical means of dividing the proceeds in a fair and proper manner.
