Take a Chance on a Foreclosure PropertyTake a Chance on a Foreclosure Property

About Me

Take a Chance on a Foreclosure Property

A few months ago, a family friend of mine purchased a foreclosure property. For years, she and her husband searched for a home they could afford. However, their budget wasn’t large enough to buy a new construction in their desired location. They also couldn’t afford the older renovated homes in their hometown either. Thankfully, they found a foreclosure property that they instantly fell in love with. With the assistance of a good real estate attorney, they were able to make their dreams of home ownership come true. On this blog, you will discover how a real estate attorney can guide you through the foreclosure buying process.


The Importance Of Hiring A Divorce Lawyer To Handle Real Estate Issues

When you and your spouse file for divorce, you are tasked with dividing up all of your marital assets. You must decide who gets what and what property will be sold. These decisions can lead to contention and confusion over the rightful ownership of assets like real estate.

Instead of trying to figure out the confusion on your own, you can retain an attorney to represent your best interests. You can rely on a professional divorce lawyer who has experience in determining how marital assets should be divided.

Proving Ownership

If you brought assets like real estate to the union, you may be entitled to keep it under your state's communal property laws. In fact, most states permit people to keep ownership of assets that they bring to the marriage. This especially is the case if you did not add your spouse's name to the deed.

If your spouse is laying claim to the property, they may try to win some or all of it in divorce court. You can prove that you own it outright by hiring a divorce lawyer to represent you. The lawyer can show the court the deed to the real estate. The court can see what day the real estate was purchased, verify the name on the deed, and then award ownership of it to you.

Splitting Dividends of Real Estate Sales

If you and your spouse legally own real estate together, you may want to sell it and divide up the proceeds. Your divorce lawyer can make sure that your best interests are represented in the transaction. They can ensure that the land is sold for a reasonable price and that you get 50 percent of whatever money is left after you pay off any lien to the property.

Your lawyer can make sure that your spouse does not purposely sell the real estate for much less than its appraised value. They can also make sure you get an even 50 percent of the dividends. Your attorney can report to the court how the transaction proceeds and notify the judge about any violations to the agreed-upon details of how to sell jointly owned real estate.

A divorce lawyer can resolve issues with assets like real estate. You can keep ownership of assets that you bring to the marriage. You can also get 50 percent of the proceeds from selling property.

For more information, contact a divorce lawyer today.