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Marital home a key part of property division

marital-home-after-separation

If a marriage comes to a premature end, there will be many hard decisions to make before the two parties go their separate ways. In particular, the process of property division can be very difficult. The marital home is sometimes a divisive issue and may require sensitive handling. Some real estate agents now devote much of their time to divorce sales.

Despite the recent slow down, there is doubt that home values have skyrocketed in British Columbia recently. Many divorcing couples are discovering during the evaluation of their assets that their marital home is worth far more than it was when they bought it. On the surface, this seems like an ideal situation. However, since only one person is likely to stay in the home, that person may need to buy out the other party’s share of the home. For some, this is an economic impossibility.

The only choice for many is to sell the home and divide the proceeds. This can be a trying experience for some former couples, and some realtors tell stories about angry exes causing problems showing up at sales offices and open houses. There are a few agents who now specialize in divorce sales, and that may be useful for those faced with the prospect of disposing their most valuable asset.

Professional assistance is nearly always a boon to those going through a divorce. A person who wishes assistance with any aspect of his or her divorce would do well to consider contacting a family law firm. A lawyer with years of experience handling property division issues in British Columbia is someone who can help during a difficult time.

Source: The Globe and Mail, “Realtors find a niche in clients who are getting divorced“, Rob Csernyik, May 5, 2017

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