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 otherassets 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 communityproperty 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 toco-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 anddividing 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 seriouslegal 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!
The experience with Fair Deal was great! Everything on your end was awesome! You guys did everything you said you were going to do. You made our move super easy! I would use your company again in a second! Thank you so much for the wonderful experience!
From the first call this company was caring, respectful, and fair. Everyone I dealt with was helpful and pleasant. Shared ideas to bring my 70 yr old childhood home back to its “glory days”! It was difficult for me to make this move, but knowing my home was in good hands made it easier! I recommend them 100%!
Thank you. I really enjoyed working with you. The entire process went even smoother than I could have imagined. Everyone I had contact with was extremely helpful.I would definitely recommend your services to people in similar situations.
I love how fast the process was to sell my house. Beza Bajo was awesome to work with and helped me through a rather easy process. I would recommend her and Fair Deal if you want to sell your house fast. Alan Gross was very helpful regarding the beginning of the process.
As a disabled combat veteran it's very hard for me to do certain things. Fair deal home buyers helped me sell my home seamlessly. They were there every step of the way and the best part was it was all over telephone or computer. I highly recommend this company to anyone thinking of the next step.
I sold my home with Fair Deal Home Buyers and the entire process took about 2 1/2 months. Shan was wonderful to work with and she took the time to answer all of my questions and she really listened to my requests. I would definitely work with Fair Deal again in the future. They delivered what they promised me and made the process as stress free as possible.
Great people. Great service.I chose FDHB from 4 companies I contacted. Their offer seemed fair and Wende sold their service. After that, I dealt with several other representatives. All fantastic people. For most of the business until closing, I dealt with Shan. She kept me up to date by text, email and phone. Unfortunately, right before the closing, a critical piece of information was omitted in the transfer to the closing office. That left me feeling like I was sold a bitter pill. I communicated this with Shan, it was discussed with her team and a fair resolution was agreed upon. It’s easy to rate a company high when all goes well but a company shows their colors when things don’t go as well as planned. FDHB really put an exclamation point on the FAIR DEAL. I would do business with them again because they really care about their client’s experience and earned my trust. Shan, you are a rock star!!
The whole process of the sale of our house was handled very professionaly. My anxiety was taken care of by their professional ethics and attention to my needs and concerns. Thank you once again...
I loved my experience with this company. They offered me a fair price and Beza was there for any questions or help I needed. The process was fast and trouble free. I would recommend this company for selling your home quickly and hassle free.
I don't normally do reviews, but I thought I would as another way to show my appreciation. I feel that I really did get a fair deal for my house sale. I had a lot of different things affecting my situation which caused some holdups and indecision on my end. Peter was great, always understanding and never pushy about anything. Even when I almost backed out very close to closing. The few times they had to come through the house for inspection we're quick and professional. I truly recommend this group if you find yourself wanting to sell your house quickly and painlessly. In my experience they are good people and they do their job well.Kevin Laufenberg
The experience was awesome. The whole process took a month. The staff at Fair Deal Home Buyers LLC did a great job of keeping us update on the process. If I ever needed to do this process again I would contact them again.
We just closed our house today! Our family lived in the house for 15 years and had a great life for our boys growing up. The last few years though the house started to show its age. I spent many sleepless nights worrying about what to do. We did not have the money for repairs. I contacted Fair Deal and within days they met with me, ( even though we lived in SW Wisconsin)and offered me a very fair price that day. I accepted and the wheels started rolling. My main contact was Beza. She was always there for questions and explained to me what was going on and why. She is the best as well as Jackie who was very easy to work with. I highly recommend Fair Deals. They took care of everything and would let me know what I needed to do. Tonight is the first time in a long time that I can just relax. Thanks again!
Very professional experience and treat you how they would want to be treated. Doing business with. I would recommend Fair Deal Home Buyers LLC . To anyone who wants to sell. Ms.Sylvia
Fair deal was very easy and smooth to deal with. Such a huge relief getting rid of a property I no longer needed nor wanted to deal with the massive rehabilitation that was required. Thank you!
Everyone that I worked with was genuine and helpful through the whole process. I think highly of the company and everyone I talked with in person and by phone/text. I highly recommend this company.
We have enjoyed working with everyone from Fair Deal Homes. Everyone from you and Peter, to the inspectors, to Jackie at the title Co, were all a pleasure to work with.
This was an awesome experience. Fair Deal Home Buyers were exactly that--fair dealing. Peter and Shan were both excellent in helping us, explaining the process, and providing a smooth transaction. This was an excellent experience from start to finish. I could not be more pleased! Totally first rate all of the way!! Thanks, Fair Deal Home Buyers!!
This was a great process for me there were no hidden things that came up everything that was said at closing was delivered the staff was very helpfulf especially Beza she was awesome. I would highly recommend fair deal to anyone.
It was very enjoyable working with this company . They are very understanding . Hard working and move as fast as you want them too. I would definitely use this company again. Thank you very much Ben have a great day!!
The process was way easier than I ever would have thought! Fair Deal is by far the way to go! Everyone is super helpful, up front about everything truly top notch the list goes on! From the first phone call to start the process of selling to the closing was nothing less than perfect! Beza was super helpful and prompt on any ? Or concerns we had.
Fair Deal Home Buyers were excellent to work with in selling our home from start to finish. They were upfront and honest through out the process. I highly recommend them.
Everything went smoothly and everyone made time for our work schedule as well for our dogs scheduled I would recommend fair deal home buyers LLC to all who seek to sell there home thanks to all who helped
I recently had the pleasure of working with Ina at Fair Deal Home Buyers, and I must say, it was an outstanding experience from start to finish. Ina's professionalism, expertise, and genuine care for her clients truly set her apart. I wholeheartedly recommend her services to anyone in need of assistance. Thank you, Ina, for your outstanding help!
My experience with Fair Deal Home Buyers was extremely professional and highly ethical. The entire team communicated daily with any updated information needed to streamline my selling process. I recommend Fair Deal Home Buyers for those in search of a highly ethical, professional, and team oriented real estate company.
If you are looking to sell your house, Fair Deal Home Buyers LLC are very professional and they won’t try to low ball you on the value of your property. Very respectfull and helpful when you have questions or concerns. Beza was my main contact and she was wonderful and prompt getting back to me with the questions I had and processing the paperwork. If you are looking to sell your house, give them a call, you won’t be disappointed.
Polite courteous very professional staff everybody I work with there understood my needs and worked in cooperated to make sure that they happened . I would highly recommend them to anybody.
Each person was easy to work, very professional. The process was quick and went smooth each step of the way. Would recommend Fair Deal Home Buyers to anyone who looking to quickly sell their home
If you find yourself needing to sell your house quickly and want to work with trustworthy home buyers who offer fair deals and exceptional service, Fair Deal Home Buyers are definitely the way to go. I couldn't be happier with the outcome. Give them a call, and you won't be disappointed.
Fair deal home buyers are a life savers, I had an urgency to sale my parents house that I inherited and had some complications with the POA but Amir Erez was so helpful speeding up the process with their lawyers and in three weeks they closed on my house and I got cash in my hand to be able to move on. Thank you guys for your help. Definitely recommend it.
Our experience selling our home with Fair Deal Home Buyers was a positive experience. They were quick, efficient, and worked with us, even though we were no longer in town.
We had such a great experience working with Nina. She made the process so easy! She presented our options clearly so we were able to make an informed decision to sell our house quickly. She listened to us and paid attention to every detail - HIGHLY recommend!
I had the pleasure of working with Fair Deal Home Buyers, and I must say it was a fantastic experience from start to finish. If you're in a situation where you need to sell your house fast, I highly recommend giving them a call.From the moment I reached out, their professionalism and expertise were evident. They walked me through the entire process, answering all my questions and concerns with patience and clarity. It's clear that they truly understand the real estate market and the needs of homeowners.What sets Fair Deal Home Buyers apart is their commitment to integrity. In an industry where trust can be hard to come by, they prove themselves as reliable and honest home buyers. There were no hidden fees or surprises along the way, just a straightforward, fair deal.They made the entire selling process incredibly convenient. Unlike traditional real estate transactions, when something small came up they were on top of it and helped navigate and resolved the issue. Fair Deal Home Buyers streamlined everything, making the sale efficient and stress-free.Furthermore, their responsiveness was outstanding. They kept me updated every step of the way, ensuring I felt comfortable and informed throughout the process. It's clear that they prioritize their clients' satisfaction.In summary, if you find yourself needing to sell your house quickly and want to work with trustworthy home buyers who offer fair deals and exceptional service, don't hesitate to contact Fair Deal Home Buyers. They made what could have been a daunting experience a breeze, and I couldn't be happier with the outcome. Give them a call, and you won't be disappointed.
I highly recommend Fair Deal Home Buyers. They are a pleasure to work with, have great customer service and are highly professional.We really enjoyed working with the team and I highly recommend them!
As a buyer from fair deal, I would recommend them! They were fast in their communication, kind in their interactions and clearly seems to have everyone’s best interests at heart. Working with Tiffany was a great experience. I love working with people who are kind, fair and clear in their communication. I’d recommend them to others, and have! -Dave
Fairdeal Home Buyers is an outstanding company. The process with them was seamless with no surprises at all. They closed in a timely fashion and I received my asked for my property.
I am very happy with the service I have receive from Fair Deal Home Buyers. The whole procces has been very simple and easy to understand. I'm moving in from out of state and i don't think I could have found a easier and better way to move in to my new home. Thank you so much.
I recommend Fair Deal Homebuyer well detailed information about what to expect from them it was fast deal they offer and we agree .It was really fast and fair
They are great to work with. Professional, kind, responsive and straight forward. I learned getting a cash offer for a house does not have to be complicated or take a long time, thanks again!
