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Real property: often a central concern in a divorce proceeding

| Oct 29, 2013 | High-Asset Divorce |

In many divorce proceedings, both in Georgia and nationally, discussion surrounding what is deemed most important in a marital dissolution often centers on a few core topics.

Unsurprisingly, the kids — when there are children — typically figure in the mix, with considerations focused on visitation and child custody often being a predominant concern in divorce negotiations.

And then there are, of course, finance-related matters, which are often multi-layered and complex. Is spousal support under discussion? What about child support? Are there savings vehicles — such as bank accounts, company-sponsored retirement accounts, pensions and Social Security — at issue? Is there a family-owned business? What about personal property, such as art, jewelry, automobiles and furnishings? What about realty?

Yes, what about realty? Real estate holdings, especially the family home, are often foremost in importance when it comes to property division, especially in a high-asset divorce.

And dealing with real estate can be complex and flatly difficult in a divorce proceeding, depending on a number of factors. A recent media article on the subject divides discussion into separate segments based on whether both parties want to sell a home, whether one wants to keep the home, or whether agreement on the disposition of realty simply cannot be reached.

Those alternative scenarios provide for myriad outcomes and entail a number of potential issues centered on value, accrued equity, the local market, equitable distribution of proceeds and additional factors.

A seasoned divorce attorney with a proven background in helping clients successfully negotiate property division matters, including, centrally, those closely focused on real estate, can be an invaluable resource in helping to ensure a fair outcome in a divorce proceeding.

Source: Reuters, “YOUR MONEY — Splitsville? How to divide property in a divorce,” Geoff Williams, Oct. 7, 2013

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