[ Ссылка ] Can the Family Residence be Sold During the Divorce Process - Richard Ross Associates
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The family residence, where both parties lived during their marriage, is often the couple’s largest asset and therefore a popular matter to be discussed. In most cases one party will not be able to afford keeping the residence on their own and the residence will need to be sold in order for the parties to move on and live separate lives. If both parties agree to the sale, the court will usually allow the residence to be sold without any issues.
In fact, the court usually will not order a property to be sold unless the asset is at risk - such as through a foreclosure or bankruptcy. If this is a real possibility, the judge will order the family residence to be sold immediately and the profits, if any, to be dispersed equitably. If such an occasion were to arise, it is important that each party’s Declaration of Assets and Debts were submitted accurately, especially if there are any separate property claims or liens against the property.
If both parties cannot agree to sell, but the property is not in danger of bankruptcy or foreclosure, it is considered to be a property issue and will not be resolved until the trial, which occurs at the very end of the case. Some family law cases, particularly the more contentious ones, can last for a number of years so not coming to an agreement regarding the sale of the family residence could become a burden to one or both parties.
Another solution, instead of selling, would be if one of the parties bought out the other party’s interest in the family residence, if they were financially able to do so. This solution is more common when the parties have children and would like the children to be able to remain living in the same house for continuity.
Certified Family Law Specialist Richard Ian Ross has been practicing Family Law in California for almost 40 years where he has relied heavily on his background in psychology and interpersonal relations to consistently deliver exceptional results on behalf of his clients in all family law matters including divorce, child custody, move-away, asset protection, support and other domestic matters. Richard has built his firm, Richard Ross Associates, based on this experience and prides himself on building a team of knowledgeable colleagues who will do the same.
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