As soon as a love affair ends, it often means a deep cut in the once common life. Especially if you have invested in a condominium or a house as a married couple, the question arises as to how to proceed with the property after the separation. Whether you want to sell or rent your divorce property depends on many factors.
Selling the divorce property is the best solution for many divorcing couples. In most cases, neither of the ex-partners wants to stay in the shared house because they associate too many memories with the property. Financial reasons also often play a role. If one party takes over the property, he must not only bear the running costs, but also pay off the ex-partner. In the event of a sale, the assets are divided fairly.
Advantages of a sale:
Disadvantages of a sale:
There are also good reasons for renting out a property. Passive income can help you reduce the financial burdens of divorce. However, you should be aware that you will need to continue to have regular contact with your ex-partner in the future if, for example, important decisions need to be made around the property.
Advantages of renting:
Disadvantages of renting:
Whether you decide to sell or rent your divorce property: Weighing up the pros and cons presents you with special challenges in this final phase of your time together. Making a rational decision against the backdrop of an emotional burden requires foresight and needs to be well thought out. We will help you objectively assess the situation and save you from a hasty sale or lease. In addition, at WEISS IMMOBILIEN we always keep an eye on the industry market in Hamburg and act with expertise, so that you can calmly make a decision that fully reflects the value of your property.
As experts in divorce real estate, our real estate agents in Hamburg will be happy to assist you with confidence. Together we find a solution that both parties are satisfied with and see potential for a carefree future. We look forward to hearing from you.
Many owners want to put their breakup behind them quickly and find themselves pressed for time when selling their property. Often people sell for the first available offer and lose potential profit in the process. Unfortunately, it also happens again and again that the ex-partners cannot come to an agreement. While one party wants to keep the property, the other wants to sell it. In such a case, the sale of real estate after the separation year can be sued.
Most couples decide against a prenuptial agreement when they marry and opt for the legal form of community of gains. Therefore, material possessions such as real estate belong equally to both spouses. These must be divided equally in the event of a divorce – regardless of who paid what amount for the acquisition. Therefore, if you wish to remain living in the joint property, you must pay off your spouse.
If both ex-partners wish to occupy the property, splitting it into several residential parties may be a solution. The basis for this is that the property meets the requirements for conversion and you agree to maintain continued contact with your ex-partner. If you prefer to go your separate ways, splitting is therefore not advisable.
If you wish to remain resident in the property, you must pay off your ex-partner. If this is not possible, the latter can sue for the sale after the separation year. Then your property is sold via a partition auction far below its actual value. The proceeds of the sale will also be used to pay court costs and expert witness fees first, before the amount is split between you and your ex-spouse. Therefore, it is better to avoid this outcome and consult us.
We are experts when it comes to dealing with real estate – including divorce property, of course. Having advised many divorcing couples around their property, we know the pitfalls and pitfalls to avoid and treat both sides professionally and fairly. In this way, we ensure that all parties are satisfied with the result and that costly wrong decisions are avoided.
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