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Settling asset division in a divorce with multiple properties

On Behalf of | Jan 2, 2023 | Divorce

High-value divorces are challenging when it comes to asset division. Equitable division of those assets can take many forms, and it is important to consider the options as you negotiate your settlement with your spouse.

If you own multiple properties, there are key considerations that may help with distribution and settlement.

Who owns those properties?

The first thing to consider is the actual owner of record for each of those properties. If you each came into the marriage with properties already, you retain the ones you owned before the marriage. Properties acquired after the marriage may be jointly owned or belong to one party. If your properties are already equitably divided in the ownership of record, you can agree to retain existing ownership.

Are all properties jointly owned?

If you are both owners of record for the marital properties, the next step is to have each one appraised. Appraisal values determine the equitable division of the properties so that each party gets fair and reasonable value.

Would you rather just sell the properties?

Sometimes, it is easier to sell properties and divide the proceeds between the parties in a divorce. If neither party wishes to retain those properties and the market is conducive to those sales, it might lead to a timely resolution and financial equity.

Discuss your property ownership with your spouse before you reach the final divorce settlement. If it is possible to come to an agreement between you, this can save time and money on litigation. These are a couple of the most reasonable considerations for property settlement.

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