Divorce is never an easy process for either party. It’s an emotional process involving important decisions shaping your financial future. If you can’t afford to stay in your home after a divorce or want a fresh start, New England Home Buyers specializes in purchasing homes quickly.
Steps To Selling A House During A Massachusetts Divorce
Find A Divorce Attorney
Determine Who Owns The Real Estate
Decide How You Want To Sell The Property
Sell The Property
Divide the Proceeds from the Sale
Property Division In A Massachusetts Divorce
Massachusetts follows the principle of equitable distribution. This means that marital property is divided in a fair and equitable manner. This is not necessarily equal. The goal is to achieve a reasonable distribution based on the case’s specific circumstances.
Not all property is subject to division. Marital property typically includes assets and debts acquired during the marriage. This is regardless of whose name is on the title or who incurred the debt.
Separate property, on the other hand, consists of assets and debts acquired before the marriage. This can be through inheritance, gifts, or purchases. Generally, separate property remains with the spouse who owns it.
What factors are considered when dividing assets?
Age And Health
Value Of The Property
The Type Of Divorce
Is Massachusetts a Community Property State?
Massachusetts is not a community property state. Instead, it follows equitable distribution rules. This means a judge will divide marital property fairly but not necessarily equally.
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Worth of homes purchased and sold
Communication was great and they helped each step of the way. Couldn’t imagine any easier or simpler way to sell my house. This company was a lifesaver and I would definetely recommend them to anyone looking to sell their house. Thank you so much!
Bill G. Peabody