Property Settlement Issues in a Divorce

Many issues come up during divorce.

One of the most common involves property settlement. In fact, it is often among the most contested of divorce issues. Even in an amicable divorce settlement, property division can be difficult and challenging. A lot of work and planning goes into this part of the divorce.

Property covers both real property, such as the couple’s home and personal property, such as household items or cars. Courts use many factors in deciding property division issues and final orders.

Surprisingly, some attorneys are not familiar with the financial pitfalls divorcing couples can fall into when dividing real estate. Some don’t realize that there could be issues hidden from one spouse or the other through their property. Thousands of people have gotten stuck with a property that is due for expensive repairs or has other liabilities that have bankrupted them.

It takes an expert to understand how to divide real estate to truly make it equitable for both parties and prevent surprises that can affect a FICO score for up to 10 years if one is forced into bankruptcy.

Major property settlement mistakes can be prevented during the divorce by having an RCS-D Realtor® work with you.

Hi, my name is Melissa Wiggans. My team and I are professionally trained to neutralize divorce real estate as a business transaction.

We are dedicated to helping divorcing couples avoid common mistakes such as unfair property division, damaged credit, foreclosure, and even bankruptcy. We also provide real property support for divorce attorneys. We can help provide valuable house documents and information to supplement your case file.

As a divorce attorney, I know that your hands are full. The good news is that you don’t have to exert extra time or effort when I assist your client with house due diligence.

Delegate this task to us and we will provide you with comprehensive documents on the 4 key categories of house due diligence. These are mortgage, title, house insurance, and house condition.

Having a home inspection is just one of the many House Due Diligence items that should be addressed during the divorce. However, there are many others such as a title search, a lien search, and potential HOA special.

These house documents will help you and your client in answering important questions such as:

1. Can the house spouse qualify to refinance the mortgage and “buy-out” the other spouse?
2. Are there any title issues to the house (liens, undisclosed loans, Lis Pendens, etc.)?
3. Is the property condition problematic (structural issues, termites, environmental issues etc.)?
4. Is the house insurable by the house spouse alone?

My team of Divorce Professionals will help complete the case file.

There are a lot of considerations when dealing with property in a divorce situation. It’s important that you deal with agents who not only have experience in this process but also have a strong support team to back them up.

Call me, Melissa Wiggans, at 210-332-0310. We save you time and we save your clients money. Let’s get started!

In case you can not view this video here, please click the link below to view Property Settlement Issues in a Divorce on my YouTube channel: https://www.youtube.com/watch?v=i7np-CXNBs0&feature=youtu.be.

San Antonio Divorce and Property Division

Mixing divorce and real estate can be very challenging.

There is always uncertainty, worry, and fear for the future of the individual and, of course, the children. Sometimes, even the best well-meaning attorney can’t address all of his or her client’s needs in a divorce. That’s why it’s important to collaborate with the right people who understand the intricacies involved in a San Antonio divorce and property division.

An excellent attorney and an experienced real estate agent working excellently together can help enhance minimize the anxiety of the only person that matters in a separating spouse’s transaction: the client.

Not just any real estate agent will do. You need to partner with a real estate professional who is especially trained to counsel divorcing couples, without taking sides, in the proper valuation and disposition of the family home.

Let me assist you!

My name is Melissa Wiggans, a San Antonio Realtor® and owner of Real Estate Muses. I have recently earned the Real Estate Collaborative Specialist-Divorce designation (RCS-DTM REALTOR®) which qualifies me to resolve disputes over property ownership and equitable distribution to both parties. I have been helping families with their real estate needs for 12 years throughout my career. I am professionally trained to neutralize divorce real estate as a business transaction in the best interest of the house – and each divorcing spouse.

I can provide assistance to family law attorneys in making sure your case files are complete with regards to the home documents and help protect and educate your clients with regards to real property in the divorce.

I can also serve as project manager and refer real estate and financial professionals specializing in divorce to assist with essential evidence of the house value. Such additional evidence is needed during the divorce process, especially before any property negotiation or mediation.

How do we help attorneys and mediators?

Our team helps attorneys, paralegals and mediators gather information and documentation to enhance their divorce case files. We’re experts at navigating the complex world of divorce and how it affects San Antonio real property division.

We provide information and documentation regarding liens and title and type of ownership, insurance, mortgage and credit, home inspection and appraisal, financial consultation, tax consultation and distressed real estate consultation. We assist attorneys with clients who are going through a divorce to get better documents, so they can make better decisions and reach a better settlement.

We understand the risks couples take during the divorce when not addressing their house issues appropriately. We will collaborate with you to meet the economic, custodial and legal consequences of the moving out and moving on of your client.
With the marital residence often being the most valuable asset addressed in divorce negotiations it is crucial to be armed with detailed due diligence, valuations, property assessments, advice, and most importantly sound options.

For more information, please visit our website at SanAntonioRealEstateResource.com.

Call me, Melissa Wiggans, at 210-332-0310. Let’s get started!

In case you can not view this video here, please click the link below to view San Antonio Divorce and Property Division on my YouTube channel: https://youtu.be/lue3fHFDxgc

San Antonio Real Property Division

Nobody plans on getting divorced.

The decision to get a divorce is a difficult one. No matter how common, it is one of the most challenging of life’s experiences.

When a couple finally resigns to the idea of going separate ways, their entire life shifts. Along with this, there are many issues that must be handled including child custody disputes, parenting time, alimony and child support and equitable distribution of property.

A number of divorce disputes lie in identifying, valuing and distributing assets and liabilities subject to equitable distribution.

The procedure for San Antonio real property division is much more than a simple “this is mine” and “that is yours.” When couples divorce, they can either reach an agreement on their own as to how to divide marital property or have a judge decide for them. There are certain laws and regulations that must be followed in order to ensure an equitable distribution.

What is the difference between community property and separate property?

If a person acquired property before marriage, Texas considers it to be separate property that belongs only to that individual. For property to be considered separate property, the person must provide clear and convincing pieces of evidence. Community property, on the other hand, refers to any property acquired during the marriage.

Texas law dictates that community property is subject to equitable division, but not necessarily equal division. This means that the assets and property do not have to be split fifty-fifty. The judge may consider factors such as who, if anyone, was at fault in breaking up the marriage; who will have custody of the children; and the ages and needs of the spouses. In those situations, the judge may order a 55-45 or 60-40 division of the marital property.

The Division of the Home

For many couples, their greatest asset is the family home. Because of a home’s economic and emotional value, it can often be the most difficult to settle.

There are two main options when it comes to dividing marital property in a San Antonio divorce.

Option #1: Buyout

In a buyout, one spouse may be awarded the house and associated liabilities. The other party will be compensated with other assets from the marital estate.

Option #2: Sell the house

If the divorcing couple decides to sell the house, the proceeds from the sale would be subject to an equitable distribution because Texas is a community property state.

However, it does not mean that each party would receive a half of the profit received. One spouse may receive a larger amount of the proceeds, while the other gets a smaller amount but may receive additional compensation in the form of other property or assets.

Selling a house during a divorce is tough. That’s why we are here to help. We have the knowledge, resources, and commitment to excellence to help protect what is most important to our clients.

Visit our website at SanAntonioRealEstateResource.com for more information.

Call us today at 210-332-0310. We take our responsibility seriously.

In case you can not view this video here, please click the link below to view San Antonio Real Property Division on my YouTube channel: https://youtu.be/Iz3GmDLaYGc