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Edison Divorce Lawyers Explain Divorce and Real Estate in New Jersey
Edison Divorce Lawyers Explain Divorce and Real Estate in New Jersey
Edison divorce lawyers explain how divorce will affect current real estate issues between two spouses.
Edison,
NJ,
United States of America
(prbd.net)
10/11/2010
USA, Princeton, New Jersey (October 2010) – Edison divorce lawyers explain how divorce will affect current real estate issues between two spouses. These divorce lawyers in New Jersey are announcing how to avoid real estate issues during the litigation of a divorce.
Real estate itself is an issue in todays market but can become more of a problem when coupled with divorce. During a divorce many couples fight over retaining the marital home because of its value as an asset. However, in todays market this asset has turned to a debt in most cases. Timings of divorce can never be planned and with the real estate market the way it is today many couples could ultimately lose out in real estate. Not only may they lose money from their real estate investment financially, but homes typically have an emotional attachment as well.
New Jersey divorce lawyers can explain how divorce today will impact a couples real estate as well as suggest preparation steps. Each state has different laws regarding divorce and real estate. Prior to meeting with a lawyer, it is best to gather documentation that specifies ownership of the home.
The date of purchase is important because if the property was purchased prior to marriage the ending results of the real estate ownership and responsibility could change. If the house was purchased prior to marriage, it is vital to have documentation as to who made the down payment and the source of where it came from. This information will be used by New Jersey divorce lawyers to decide if the real estate in question is marital property or separate property.
Decisions about the real estate will need to be made in regards to keeping the property or selling. If one spouse wants to keep the property, he or she will more than likely need to buy out the other spouse. This brings into question how much to pay out the other. The buyout amount could be from how much was initially invested, how much the spouse contributed, or it could be a reflection based on current market value. A New Jersey divorce lawyer can explain the laws regarding this situation.
The decision may be to sell the property and split the proceeds. In todays market, the house may not be what it was worth when the original purchase was made and therefore spouses may owe money.
Divorcing with the current real estate market is difficult and varies from state to state. New Jersey divorce lawyers can explain the process of divorce in regards to how the real estate is handled for residents of this state.
Contact:
Edison Divorce
info@kasurilevy.com
732-253-7630
www.edisondivorce.com
About
NJ (New Jersey) Lawyers / Attorneys / Law Firm for Divorce, Child Custody, Child Support, Family Law, Restraining Orders, Protective Orders, Domestic Violence, Pre Nuptial Agreements (pre nups), Post Nuptial Agreements (post nups), Jewish Gets, Annulments, Name Change, IVF, Donor, Surrogacy Agreements, etc.
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