Even if you’re more than ready for your divorce to be finalized, you’re probably not looking forward to selling your house. You may need to sell the property if you can’t handle the mortgage payments alone or you and your soon-to-be ex can’t agree on who should keep the home.
If you’re having trouble selling your house in a divorce, Home Buyers of Savannah can help. We buy houses in Savannah, GA, and we’ll make you a fast, fair cash offer.
Who Will Get the Property When Selling Your House in a Divorce in Savannah, GA?
Who gets the house in a divorce? Georgia courts use a legal process called equitable distribution to divide assets in a divorce settlement. This means courts will handle property division in a way that’s fair, but not necessarily equal.
To figure out who’ll get the house, the court will look at each spouse’s earning potential, income, debts, age, and health. If the couple has kids, the court will consider them as well.
In some cases, the court might order you to sell the house for an equity split. That means you’ll split the proceeds once the house sells.
On the other hand, property acquired before marriage is generally considered separate property, meaning it is not subject to division during a divorce. Since you purchased the houses before meeting your wife and she is not on the title, they would likely be classified as your separate property.
However, there are some factors to consider:
- Separate Property Defined: Property acquired before the marriage, inheritances, and gifts specifically to one spouse during the marriage are considered separate and typically remain with the original owner.
- Commingling or Contributions: If marital funds were used to improve, maintain, or pay the mortgage on those houses, your wife could claim that the properties were “commingled” with marital assets. This could give her a claim to a portion of the increased value or equity gained during the marriage.
- Fair Division of Marital Assets: Georgia follows equitable distribution rules, meaning marital assets and debts are divided fairly but not necessarily equally. While your separate property would likely remain yours, any marital assets (such as income or property acquired during the marriage) would be subject to division.
- Titles and Ownership: The fact that your wife’s name is not on the title strengthens your case for keeping these properties as separate. However, the court may still consider any financial or labor contributions she made during the marriage.
Should You Sell Before or After the Divorce?
Deciding whether to sell your Savannah, GA, house before or after the divorce is a big decision. Selling your house in a divorce is a process fraught with emotion, so it might be better and easier on everyone to sell before the divorce is finalized.
You might also opt to sell now if you’re having financial trouble and can’t keep up with property taxes or mortgage payments. Selling gives you one less thing to worry about in the midst of a tumultuous divorce. Plus, if you sell before the divorce, you could avoid some or all capital gains tax.
How To Sell a House in a Divorce
If the court has ordered you to sell the house (or you and your spouse have agreed to the sale), here’s how the process works:
- You and your spouse must come to a financial agreement about how you’ll split the proceeds from the real estate sale. If you can’t agree, the court will decide for you.
- You could hire a realtor to put the house on the market and wait for an offer. If the house is in rough shape, you may not get an offer for some time, and the offer might be below market value. Or you could call us to get an immediate solution to your problem.
- Once sold, you’ll split the profits according to the agreement with your spouse.
Stop Stressing About Selling Your House in a Divorce; Call Our Home Buyers for a Quick Sale in Savannah, GA
Selling a house in a divorce can be incredibly stressful, so why not make things easier by selling to Home Buyers of Savannah? We’ll make you a fair cash offer and close on your Savannah, GA, house according to your schedule. And if you need advice on how to sell a house in probate, we help with that too.
Call (912) 513-8744 or fill out our form to get your cash offer today.
