Q: What kind of attorney can help me in a post divorce real estate settlement to ensure I get my fair share of the equity?
My ex-wife and I still live in our house. I want to sell the house. She wants to stay but says she won’t buy the house from me at a fair price and she doesn’t want to sell. The deed is in both names but the mortgage is in my name only. The home value is a lot more than what is owed and I feel that I’m entitled to at least 50% of the equity. She initiated the no fault divorce which was final August 2021.
A: Depending on what you divorce specifically says as it relates to the home and division of the home, there are likely options. Unless your divorce says otherwise or addresses issues, then you and your ex-wife need to reach agreement. You and your wife need to reach agreement and understanding, otherwise you will have to pursue a forced partition and forced sale potentially, this costs money and time that usually can and should be avoided and monies saved by reaching some agreement on your own. The reality is that the property should be appraised for Fair Market value and one of you refinances and or somehow buys the other out, if that is not possible (and I would encourage you to impress upon here that this is the best and most reasonable solution), then a partition comes into play, the court and attorneys come into play and all sort of additional costs and fees come into play and everyone ends up with substantially less. If the divorce does not say anything about the home, this is where things will eventually end up in order to resolve the home issues, why not find a way to save the substantial costs that would come along with it via reasonableness. If you cannot reach agreement and reasonableness cannot prevail, get yourself a real estate partition attorney and force the matter. She could have someone explain this to her and save the headaches and costs that will result otherwise leaving everyone with less.
Terrence H Thorgaard agrees with this answer
A Family or Real Estate experienced in partition litigation.
Alot depends if you had a Marital Settlement Agreement addressing the marital home.
Generally speaking either can force the sale via a partition action with the net proceeds being evenly divided.However, if your ex wife litigates in opposition you maybe awarded attorney's fees and costs
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