Divorce Real Estate Sales
Selling a house or other real estate owned by people in the process of divorce or planning to get divorced requires special skills. Pacific-Realtors.net has been a divorce sale expert since 1987 and can help you sell your property. Also most importantly, when you hire a real estate broker, you avoid the appointment of a receiver by the court which is costly and rarely makes either owner happy.
We understand that neutrality is essential and commit to acting as a neutral from the moment a listing agreement is signed. Part of our commitment is that we will never discuss helping either party acquire a new home and will not represent either party in acquiring or leasing another property. Our sole objective is to sell the marital property at the highest price possible.
One of the owners of Pacific-Realtors.net, Michael Chulak, has served as a Christian family law mediator for more than 30 years and thoroughly understands the process and requirements of divorce sales.
If we can assist you through the difficult period of divorce, please call us today. Also, if you need a referral to an experienced family law attorney, please contact us.
Generally, in a divorce situation, one of these things will take place:
- One co-owner will buy-out the interest of the other co-owner;
- The house will continue to be co-owned, while one of the co-owners remains in possession with a minor child or children, until they are adults; or
- The house will be sold utilizing the services of a real estate brokerage firm such as Pacific-Realtors.net and the net proceeds will be distributed based on the settlement.
In the majority of cases, the house is sold either because of the preferences of the coowners, or out of financial necessity.
Selling a House During Divorce
In order to maximize! the net proceeds, from the sale of a house by co-owners who are getting a divorce, both owners ,should consider the following:
- Potential buyers, should never become aware that the sellers are in the process of a divorce; and
- One of the owners should continue to occupy the house until a firm sales agreement has been signed, and the buyer's contingencies have been fully satisfied.
Dealing with Co-Owned Business During Divorce
The decision on how to deal with a business that is co-owned by two people getting a divorce is not only very important, it requires a careful evaluation because it is likely the primary or only source of income for both parties. While the attorneys representing the owners will want to, discuss the alternatives with their respective clients, the parties should also discuss any potential sale with a knowledgeable and experienced business brokerage firm such as PacficBusinessAdvisors.net which is an affiliate of PacificRealtors.net.
Glossary Family Law Terms
730 Evaluation - An evaluation conducted in child custody disputes pursuant to California Evidence Code Section 730, in which a child custody evaluator will perform an investigation of the family situation and make a recommendation to a judge as to what the evaluator believes is the best interest of the child. The evaluation ·usually takes a few weeks. The parents, children and other relevant persons must undergo various interviews, evaluations, and testing procedures necessary for the evaluator to make an appropriate recommendation regarding custody.
Arbitration - Is a common alternative dispute resolution technique in which the parties hire an impartial person or a group to act as factfinder and judge for the purpose of reaching a decision. An arbitration decision may be binding or non-binding upon the parties depending on what the parties agree or what the court orders.
Arrears - Money owed that is unpaid and overdue for child and spousal support.
Automatic Temporary Restraining Orders (ATROS) - Orders that go into effect upon the filing of a petition for dissolution, legal separation or annulment. Such orders restrain each spouse from disposing of, wasting or encumbering property or taking minor children out of the state until further court order.
Bifurcation - To separate legal issues for a court decision.
Cohabitation - A physically intimate relationship that includes a common living place and which exists without legal or religious sanctions.
Collaborative Law - A binding, non-litigation approach to solving family law issues in which the parties engage in a series of settlement meetings outside the court.
Contempt of Court - Disobeyance of a court order.
Default - A party's failure to answer a complaint, motion or petition.
Discovery - The procedures available to a party in a lawsuit to uncover relevant facts or information that are known to other parties or witnesses or to obtain documents in the possession and control of other parties or witnesses.
Dissomaster - A program that calculates guideline child and spousal support.
DNA Testing - A way to determine the parents of a child by testing the chromosomes of each parent and child through taking a blood or tissue sample.
Garnishment - A legal remedy whereby a debtor's property or money in the possession or under the control of a third pe~son (garnishee) is withheld from the debtor and applied to the debt.
Guardian Ad Litem - A person appointed by a court to represent the interests of a minor child in a divorce or parentage case. Guardians ad litem make recommendations to the court about what they think is best for the child.
Income and Expense Declaration - A form on which each party discloses his or her income and expenses under penalty of perjury and then gives it to the other party.
Interim Order - An interim order is sometimes called a temporary order and refers to any order made in a family law case before the final order or decree is made. In family cases, these are the judge's short-term decisions about issues such as child support, child custody, visitation, possession of the family home, attorney fees, spousal support or payment of debts. The final order may be completely different.
Joint Tenants - A tenancy in which one owner has a right of survivorship to the property upon the death of the other owner.
Judgment - The final decision of a court about the rights and claims of each side in a lawsuit.
Mandatory Settlement Conference - A conference held between the parties in a divorce action, and a judge in an attempt to settle all outstanding disputes.
Marital Settlement Agreement - A settlement agreement reached by the parties to a divorce or legal separation, resolving all outstanding disputes between the parties.
Mediation - Mediation is a voluntary and confidential process in which a neutral third-party facilitator (the mediator) helps people discuss difficult issues and negotiate an agreement. Parties in mediation create their own solutions. The mediator does not have any decision making power over the outcome.
Minor's Counsel - A court appointed attorney for a minor child.
Modification Order - An order of the court that alters, changes, extends, amends, limits, or reduces an earlier order of the court.
Motion - A request or petition to the court.
Notice of Entry of Judgment - A notice issued by a judge that decrees that judgment has been entered in the case.
Order to Show Cause (OSC) - A motion to the court to obtain court orders regarding custody, support, visitation, attorney fees, or any other relief.
Parenting Plan - A written plan describing how custody will be shared between parents after tile parents divorce or separate.
Pendente Lite Support - A temporary order regarding spousal support.
Petition - A legal document that commences a case.
Petitioner - The person who files the petition to begin a case.
Respondent - The person who responds oris required to respond to the petition.
Response - A legal paper that responds to the allegations asserted in a petition.
Schedule of Assets and Debts - A form on which each party must disclose all of their assets and debts under penalty of perjury and then provide it to the other party.
Service - Providing the other party a copy of the documents being filed with the court.
State Disbursement Unit - A California state agency and collects and disburses all child support.
Status Hearing - A hearing in which the court identifies what issues are contested, what discovery needs to be completed and what future hearings are required.
Stipulated Judgment - An agreement between the Parties regarding resolution of all outstanding disputes between the Parties that is incorporated into the judgment and enforceable as a judgment.
Stipulation - An agreement between opposing parties on any matter relating to the proceeding or trial, such as an agreement on support, parental rights and responsibilities, parent/child contact and property division on either a temporary or final basis. A stipulation is submitted to the judge, who may sign it into an enforceable order.
Subpoena - A court issued document requiring a person to appear in court and/or produce documents.
Temporary Restraining Order (TRO) - An order enjoining a person from taking certain actions for a defined period of time. A temporary restraining order can order a person to cease any communication or contact with another person.
Tenants In Common - A type of joint ownership of property in which two or more parties are co-tenants of the same property but do not have a right of survivorship; each owner's portion of ownership is separate and distributable by will or by means of a living trust.
Trial Setting Conference (TSC) - A hearing in which the court sets the date for trial.
UCCJEA - An acronym for The Uniform Child Custody Jurisdiction And Enforcement Act, which is designed to assist people to receive child support from non custodial parents living in other states.