When it comes to money and divorce, you’ll find there is one topic that is more stressful, more emotional and more difficult to deal with than any other.
Marital Residence (Owned)
1. Sale of the house after divorce: What disposition will be made of the home?
a. Will it be sold immediately?
b. Will one of the parties deed his/her interest in it to the other
c. Will one of them have rights to live in the home; if so for how long?
2. Will one of the parties have the right to live in the home for a period of time after the divorce?
a. Will he/she have the right to rent any portion of the home or allow any other person to live there?
b. If rent is received, who will have the right to keep it?
3. If one of the parties lives in the home for a period of time, will that right be affected by remarriage?
4. If one of the parties lives in the home with a boyfriend or girlfriend will that affect the right to continue living in the home?
5. If the home is to be sold, how are the proceeds to be divided between the parties?
6. If the parties cannot agree upon the terms of sale of the house,) e.g., price, broker, etc.) how are the terms of sale of the marital home decided?
7. Who will be responsible for ordinary maintenance and carrying costs of the home until it is sold?
8. Who will be responsible for major repairs and the costs of preparing the home for sale?
9. If and when the house is sold, will either party have a first option to buy it?
10.Who will be entitled to deduct interest and taxes for income tax purposes?
11. Who will be responsible for any income (capital gains) taxes associated with the sale of the home?
Marital Residence (Rented)
1. Who will have the right to continue to occupy the marital residence?
2. Who will be obligated to pay the rent and other costs in the future?
3. What will happen with the security deposit of the marital residence after divorce?
4. Will the spouse who moves out of the rental property have an obligation to join with the one who stays in the marital residence in renewing the lease if the landlord will not renew it without his/her signature?
Division of Personal Property
1. How will the furniture, household furnishings and other items of personal property be divided?
2. How will the checking and savings accounts, either in joint or individual names, be disposed of?
3. How will the stocks, bonds or other securities in either joint or individual names be divided?
4. What will happen to the cars, boats, art work, or other items of personal property?
5. Will either party have the right to share in any pension or retirement benefits to which the other is or may be entitled? If so, to what extent?
6. Will either party be entitled to share the value of any business, professional practice, royalties or other property owned by the other party? If so, to what extent?
Both Real and Personal Property are dealt with at A Fair Way Mediation Center of San Diego. The source of funds for a major purchase is discussed and the distribution of assets is worked out in the relaxed atmosphere of the Mediation office instead of in the emotionally charged atmosphere of a Courtroom. In today’s difficult economic times Short Sales, Foreclosures and Out of Pocket Expenses are considered. Each participant has a point of view and will need be heard by the A Fair Way Mediation Center of San Diego mediator. Mediation options are reviewed so the parties can make the best choice for their individual circumstance.