Many would not expect that a bride and groom would go without a second after they signed the divorce papers. But this is the case for most marriages formed in California without any arguments. The only exception to this rule might be incestuous relationships.
Consolidation of joint assets and debts
When two people share the property and debt, they become a single marital asset and debt. Therefore, such a situation demands addressing sooner rather than later. The best time for this is prior to the filing of divorce papers. If the spouses do not have arguments and maintain friendly relations with each other, their marital property and debts might be properly valued and they will be able to consolidate their joint assets and debts.
Joint real estate and loan portfolios
Real estate and loan portfolios are extremely important for a couple to be able to settle debts and establish joint credit accounts. The two of them should be devoted to the purchase and construction of houses, respectively. Both spouses should also be interested in obtaining large discounts on the sale of their homes. The aim of such an account is to provide both spouses with a large personal budget and to make it possible for one partner to stay in the marital relationship with the debt and property of the estate.
The primary method by which spouses can consolidate their debts and obtain a divorce is to have a joint mortgage. This is a loan that is guaranteed by both parties equity and is backed by real estate and other assets. Therefore, such a loan is normally interest-free, with the exception of those who have income that is higher than the average. If you have to pay down your mortgage, then it is best to have another loan that is higher interest-bearing. Such loans can be interest-bearing ones or all-purpose (for example, car loans, medical loans, commercial loans, etc.).
It is worth mentioning that even though some spouses have no real estate to sell, they still have to pay off their student loans, some have to pay off their credit card bills, and others have to work two jobs to make ends meet. Therefore, such a stress-free and hassle-free method of divorce is absolutely worth considering.
How to Sell Your Home During Divorce
During the long and complicated process of divorce, many spouses try to sell their homes. Although this is generally not a good idea, it is better to take this option if you can.
Even if you think that you cannot sell your home, it does make sense to sell it as soon as possible. Selling your house may hurt you emotionally not only because you will feel like you have abandoned your home, but also because it will be financially challenging to maintain the house on your own. Therefore, consider this option if you believe that it is not possible to continue living in the house.
Still, you have to understand, that you cannot put a house up for sale until you know for sure that you are sold.
Before Selling Your House
Once you are sure that you are sold, it is time to look at what you can sell. There are three main scenarios that can occur in the course of a divorce:
· Unfair division of property;
· Accommodation, health care, and/or leisure;
In each of these cases, you must prove that the house belongs only to one of the parties, and that you were not able to live in it. Then you can sell the house freely, for a higher price.
· The house is unfit for human habitation;
· The family has lived in the house for less than six months;
· The house was not renovated;
· The house was not equipped with modern conveniences.
When you know for sure that you are sold the house, it is time to act. You have to move on and try to get the house in your name. Create a special e-mail address for correspondence with your partner so that you can check in progress if there is any chance to save the house.
· The house is worth less than $ 10,000;
· The value of the house is less than $ 10,000;
· The house was not renovated.
When you have three or more scenarios, then you need a formal plan of sale. The best part is that if you have a plan, you can control all the procedures yourself, instead of having to deal with the lawyers assistance.