Here are some important questions to ask when it comes to dividing real estate in an Orange County Divorce:
Now let's assume the real estate is all community property. Generally, there are two options to deal with a house in an Orange County divorce - sell the property or buyout your spouse. Selling the property and dividing the proceeds seems fairly straightforward, but there are key steps that you will want to keep in mind.
If you are contemplating a buyout, it is absolutely critical to make sure that the party being bought out is taken off the loan. Many times, one party cannot buyout the other side because they cannot qualify to keep the increased mortgage. Make sure that you consider all options and consider if there could be an equalization payment made from another community source.
Song Family Law - Mission Viejo
27281 Las Ramblas, Suite 200
Mission Viejo, CA 92691
Song Family Law - Orange
500 N. State College, Suite 1100
Orange, CA 92868