[cs_content][cs_element_section _id=”1″ ][cs_element_row _id=”2″ ][cs_element_column _id=”3″ ][cs_element_headline _id=”4″ ][cs_content_seo]Liquidating Assets Prior to Divorce in Mequon
\n\n[/cs_content_seo][cs_element_text _id=”5″ ][cs_content_seo]Selling your house can be difficult to do when going through a divorce. It is emotionally and financially draining for you and those involved, but did you know that selling your house may benefit you and help you pay for the divorce? 
If you are interested in liquidating your assets prior to divorce, then keep reading. We will go over everything you need to do to get your house sold. 
Selling Your House during a Divorce
Selling your house during a divorce is more complicated than selling before you start the process because of the Standard Family Law Restraining Orders that go into effect as soon as the divorce petition is filed. 
Here are some of the stipulations from Farzad Law when trying to sell your home while going through a divorce.  
The stipulation and order to sell the house during a divorce stipulation means agreement. Therefore, a stipulation and order is an agreement that becomes a court order. Possibly the easiest way to sell the house during a divorce is through a written and signed agreement between the spouses that then becomes a court order. Effective legal representation is important. Speak to your family law attorney about the terms that fit your needs.
Some of those may be the following:

Will the selection of the real estate professional be a mutual one? Will one spouse provide the other with a list to choose from or will there be another way to choose one?
How will the price be set? Will it be up to the real estate professional subject to the approval of the spouses?
How will the price be reduced, if necessary?
Will one spouse be the lead in all communications with the real estate professional or will every discussion and decision have to go through both spouses?
Will both spouses need to formally approve all offers, counteroffers, and acceptances?
Which spouse will ensure the home is ready for showing to prospective buyers? Will the home be shown even if neither spouse is present?
Is there an agreed dollar amount that, if offered, will result in an acceptance of an offer or will the spouses have the ability to negotiate any price?
Are there liens or encumbrances other than the mortgage that needs to be paid from the sale proceeds? Are they undisputed as a community or separate property and, therefore, from whose share they will be paid?
What will happen to the sale proceeds? Will it be distributed to the parties, in whole or in part? Will it be characterized in the stipulation and order as community property, separate property or will that characterization be reserved for the court to determine later?
Are there reimbursement claims by either spouse, such as one resulting from a separate property down payment that can lead to Family Code 2640 claims?”

These are all things that will need to be sorted out before being able to sell your house. And if you are going through a divorce, then this can be not only emotionally overwhelming, but expensive as well. You already have to pay for your divorce so you probably don’t want to pay for a lawyer to sell your house on top of everything else. So what are your options? 
Sell Your House before Filing for the Divorce
If you can, sell your house before filing for the divorce. Once you have made the decision to get a divorce you probably don’t want to wait the time it takes to sell your home on your own or with a realtor. 
A cash buyer is a good person to reach out to in this situation. Fair Deal Home Buyers is a cash buying company that will purchase your home in a short seven days. We will come out and give you an offer and because we have the cash waiting for you, we will be able to get you out of your home fast before you start to file for divorce.
Contact us today at 414-409-8251. We help people in this same situation all the time. We understand how hard this can be and we are here to help you feel comfortable through this entire process. \n\n[/cs_content_seo][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”6″ ][cs_element_row _id=”7″ ][cs_element_column _id=”8″ ][cs_element_global_block _id=”9″ ][/cs_element_column][/cs_element_row][/cs_element_section][/cs_content]

[cs_content][cs_element_section _id=”1″ ][cs_element_row _id=”2″ ][cs_element_column _id=”3″ ][cs_element_headline _id=”4″ ][cs_content_seo]Selling Assets Before Divorce\n\n[/cs_content_seo][cs_element_text _id=”5″ ][cs_content_seo]Selling assets before divorce is something that many who find themselves in this type of stressful situation may attempt to do. It is a rough time that the couple is going through and there are a lot of mixed emotions. You are most likely concerned about how the money that you have, your house, and other assets will be divided. But most of the time selling your assets can just make a bad situation worse.
What you may not realize is that this can get you into some serious legal trouble. Every state has its own specific laws as to how assets are to be distributed in a divorce. If you are considering selling your assets, you need to look closely at what the rules are. In general, the rules will fall into one of two categories.  
Community Property States
Those states that are classed as community property states have laws in place that create a 50-50 split of the assets that were accumulated during the marriage. It doesn’t matter which of the parties may have actually purchased them, they are considered to be part of the marital assets. 
There are situations where individuals enter into a marriage and bring some assets into the marriage with them. This could be a specific amount of money such as savings, or perhaps a home or other type of asset. In this case, these types of assets will not be considered as part of the community property of the marriage. The exception to this is if you decided to co-mingle these assets in your relationship. It can get a little confusing when it comes to assets owned prior to the marriage and what happens to them during a divorce. 
For example, if you have $25,000 in a bank account in your name, when you entered into the marriage and you kept it in your name, then that is your asset.  However, if you took that money and put it into a joint account with your spouse then you have co-mingled that asset and it is part of the marital assets. Or you may have entered into the marriage with a new vehicle that was in your name, and you kept it that way. This too may not be considered as part of the marital estate.
Equitable Distribution States
When selling your assets you need to determine if the laws are based on equitable distribution. In this case, the splitting of the assets is based on fairness according to the specific circumstances of the marriage. While the law states each of the parties are entitled to a share it doesn’t mean that each will get half. Many contributing factors are taken into account when the equitable distribution is being determined. 
It will take into account what each of the parties has contributed during the course of the marriage as well as how long the marriage was in place. Usually selling assets before a divorce and dividing assets means the laws of the state are not being adhered to. This can create legal consequences for the party attempting to sell assets before divorce. Selling assets before the divorce is finalized can be viewed as committing a crime and you can very easily get caught.
What some will attempt to do is hide their assets before actually selling them. This is so they will not be included in the marriage estate.  During the divorce proceeding, there is what is called a ‘Discovery’. This is where both spouses must provide all their information about their assets and financial information to each other. If you are hiding assets or have been active in selling assets before divorce and you do not disclose this you could be charged with perjury. 
While the sale of assets before the divorce may be tempting for many different reasons, it really is not something that you want to participate in because no matter whether you are just contemplating doing so, it will probably get you into some serious legal trouble. You need to take the time to research the divorce laws of the state and make sure that you rely on the proper resources to assist you with making the right decisions. There is a lot that has to be considered regarding the sale of the home, and no doubt you and your spouse want to get the most for it if you decide to sell. If the value of the home is not going to cover the mortgage outstanding then you may want to find alternatives to selling assets before divorce. 
Sell Your House Fast
Selling a house quickly after a divorce can be a stressful situation. If you need to sell your house fast and don’t want to go to all of the work, Fair Deal Home Buyers will give you a cash offer in 24 hours. Just give us a call at 414-409-8251!\n\n[/cs_content_seo][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”6″ ][cs_element_row _id=”7″ ][cs_element_column _id=”8″ ][cs_element_global_block _id=”9″ ][/cs_element_column][/cs_element_row][/cs_element_section][/cs_content]

[cs_content][cs_element_section _id=”1″ ][cs_element_row _id=”2″ ][cs_element_column _id=”3″ ][cs_element_headline _id=”4″ ][cs_content_seo]What Happens to a Mortgage After Divorce in Wisconsin?
\n\n[/cs_content_seo][cs_element_text _id=”5″ ][cs_content_seo]Figuring out what to do with a house that has a mortgage on it after divorce can be daunting. This is a question that comes up at a time when your life is probably in turmoil, and the last thing you want to do is deal with a mortgage.
When it comes to the mortgage, it can mean that the division of the equity in it has to be determined. Then it may mean trying to decide whether the home is to be sold or not. There may also be liabilities regarding the home that have to be dealt with.

What Are the Responsibilities for the Mortgage After Divorce?
Responsibilities for the mortgage after divorce are not something that most people deal with on a regular basis. It is understandable why there would be so many questions that arise pertaining to it.
One of the common questions is whether the house has to go through a sale so the equity can be divided. There is an alternative to this where one party can buy out the other. If this is the route that is taken, usually the spouse that is going to buy the home will have to go through a mortgage assumption so they can pay the other spouse their share of the equity.
What has to be decided quickly when it comes to dealing with the mortgage after divorce is who is going to be responsible for paying it.

Who Will Pay the Mortgage?
If the mortgage has been held jointly, then legally both spouses are equally responsible for making payments. If the mortgage is not paid, the lender can come after both parties.
During the divorce agreement, it should be legally determined who is going to assume the mortgage payment responsibility. There are times where agreements are made between a couple to just transfer the title to the other partner. This can be done with a quit claim deed.
This means the party signing over their ownership will no longer have any claims to the property. That does not mean that the spouse giving up their rights to the property is no longer responsible for the mortgage after divorce.
To prevent this there has to be a transfer of liability. This can be done by the spouse who is taking ownership by taking on a mortgage assumption or arranging for a loan modification after divorce.
In most cases, the better route to take is to assume the mortgage which will then have the responsibility for paying it moved over to the spouse who is going to keep the house.
This will only work if the spouse applying for the mortgage assumption meets the criteria put in place by the mortgage lender. If this is the case, then it may be possible to obtain a home equity loan for refinancing.

What If the Value of the Home Is Lower Than the Mortgage?
Not every couple going through a divorce is going to make a profit from the sale of the home, and that selling it will clear off the mortgage. There are times where the value of the home is lower than the mortgage.
If the buyout partner cannot qualify for a loan modification after divorce or come up with other ways to buy the house, then it creates a difficult situation.
What could possibly be arranged is putting off the buyout or selling the house. It means an agreement would have to be reached to this effect by the two spouses.
If you are trying to sell your Wisconsin house after a divorce, Fair Deal Home Buyers will give you a cash offer as soon as 24 hours! To get your cash offer, or to get answers to any questions you have, call us at 414-409-8251. There are no obligations in contacting us!\n\n[/cs_content_seo][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”6″ ][cs_element_row _id=”7″ ][cs_element_column _id=”8″ ][cs_element_global_block _id=”9″ ][/cs_element_column][/cs_element_row][/cs_element_section][/cs_content]