• Home
  • Real Estate and Divorce

Selling Real Estate & Divorce in Denver, Colorado:


Divorce Workshop in Denver Area

Workshop Dates and Registration

What You Need to Know

It's no secret that divorce is already a complicated affair. When you combine it with real estate, it becomes a colossal pot mix of added convolution. For most, the most significant asset in their lives is their property. And with marriage, these properties are shared resources between the couples.

"When a couple decides to separate, sometimes they will find themselves amid a big question, "Who gets what?"

This is why most divorce proceedings are often prolonged and may even turn nasty, as everyone wants their hands on the property. Regarding the rightful division of the real estate between two parties, we need to go back and understand the fundamental question of when the property was purchased.

This is the deciding factor, as there are laws concerning the time and purpose of purchasing a property. Suppose you had purchased the property or had been presented with the property before your marriage. In that case, the property exclusively belongs to you, and it is up to you whether you want to share it.

Suppose you purchased it after marriage as a couple, and the property is registered under both of your names. In that case, it may be subject to the division after your divorce. Another point that is important to remember is the concept of marital income.

When a couple purchases a particular property, this serves as a source of marital income for both concerning parties and is subjected to equal distribution between the couple. While this covers the fundamental aspect of how marital and real estate laws generally work, this is how the division is carried out in most states. The same fundamental laws are applied even if a prenuptial agreement is absent. Some states have specific rules which are more or less similar.                         Let's talk about the Divorce law in Denver, Colorado.

What does the law state in Colorado?

Ordinarily, Colorado is considered an "equitable distribution" state. This means that regardless of the conflicts that may arise relating to marital property distribution among spouses, a settlement is reached following a signed Marital Settlement Agreement agreed upon by both parties within the limits of the Decree of Dissolution of Marriage, which adheres to the state laws. In agreement with this, the properties are divided equally unless a dispute arises between the divorcing spouses.

If a dispute arises, the proceedings are carried out equitably, which takes the meaning of being fair but not compulsorily equal. It is sometimes 50-50. When there is an unresolved dispute and court intervention is necessary, the following steps are pursued the divide the property:

  • A process is initiated wherein the assets are classified as marital and personal.
  • The property is assigned an appropriate capital value.
  • The investments are then distributed in an "equitable "way, i.e., not in an equal manner but in a fair manner.

For depth, here is a list of factors that the court considers for the division of property:

The contribution towards the purchase of the property of each individual is considered first and foremost, even if the spouse is a homemaker. The spouse's economic stance is considered at the time of divorce, including the custody of kids, if any. According to the Colorado Revised Statutes, Article 10, Section 14-10-113, any deviation from the property's value during the marriage period is considered. Both parties should have stayed in Colorado for a minimum period of 90 days. If not, you will be considered not a permanent resident of the state, and the p[rotary may be awarded to your spouse

These considerations are applied here in Denver, and all proceedings are carried out according to the state laws mentioned above. The next section will look at some of the most common questions that pop up in the mind of couples going through a divorce.

Commonly Asked Questions

Why Should I Attend a Divorce Workshop?

Cooperation during a divorce can benefit both parties involved. By attending divorce workshops, couples can learn valuable skills and strategies to resolve issues without the stress and financial burden of relying heavily on lawyers. Our workshops provide a supportive environment where couples can gain knowledge and resources for divorcing. By promoting understanding and cooperation, our divorce workshops help couples achieve a smoother, less stressful separation, ultimately benefiting their emotional well-being and financial stability.


Divorce Workshop in Denver Area

Workshop Dates and Registration

Will My Wife Get the House in Divorce?

As property law governs division, if you and your spouse cannot reach an agreement, the state will equitably divide the property. Your wife might get the house depending upon several factors, such as her income, the custody of children, and pets.

Who Gets to Stay in the House During Divorce?

This is a complicated question. As the governing factor to this question depends upon the law, if you or your spouse has a restraining order or any other legal factor stopping you from staying, you cannot survive. However, it is not a big deal if you have a mutual written agreement to keep in the house until the divorce is finalized. But if you wish to remain separated, getting the court involved is advisable.

Another point is that if your children are involved in the process, the parent who spends the most time with the children may be awarded the right to live on the property until everything is finalized.

How is the House Divided in the Divorce?

There are two ways in which the property is generally divided during a divorce:

  •  Community property
  •  Equitable distribution.

In the case of community property, the asset is considered community property, which means it is equally owned by the couple and divided equally between the two. This is true in the case of states such as Arizona, California, and Nevada, to name a few. In the case of equitable distribution, followed in Colorado, the property is divided reasonably but necessarily equal as in 50-50. We need to understand that property division may not always mean physical distribution of the property; the court may grant a percentage value deemed fit to each spouse.

Is it Better to Sell the Home Before or After the Divorce?

There are pros and cons to both scenarios. In a nutshell, when you sell the house before your divorce, you and your spouse will equally divide the profit. If you sell the home after the divorce, the person to whom the court awards the property gets the total amount. Whichever suits best to you, you can proceed accordingly. If you are looking to Sell a House before a Divorce, Contact Kenna Real Estate.

What Happens to Colorado Real Estate in Divorce?

As mentioned, if you and your spouse disagree on who gets what, the court will decide who will keep the property. This is done according to the law and is carried out legally by both parties.

How is the value of a house determined during a divorce?

During the divorce negotiation process, if both parties make a fair decision, the property is divided into some factors. This includes the value of the property.

Hence, valuation is done by a person of the court or a professional appraiser who evaluates the market value of your property by specific agendas, such as comparing it with similar properties in the market and unique features your house might have. The final valuation may be a deciding factor on which percentage value goes to whom.

Are you in a community property or equitable distribution state?

Here in the United States, there are nine community distribution states: California, Nevada, Idaho, Louisiana, New Mexico, Washington, Arizona, Wisconsin, and Puerto Rico. Alaska state gives the option of opting into the community property. The other 41 states rule according to the equitable distribution or normal law states.

Should you keep or sell the house?

While keeping or selling your house is entirely up to you, you should consider certain factors before deciding. Both aspects have pros and cons, and it is advisable to analyze both situations and do what is best for you. Some factors, such as children or an emotional connection to the house, may prevent you from selling it. On the other hand, you may want to sell the house immediately, as space might remind you of our e, and you can't afford to pay for mortgage and utilities.

Should you buy out your spouse's share of the house?

While it is not advisable to do so, as divorce is an already complicated situation, and this might add fuel to the fire, many times you think that this might work financially better for you and might also be more accessible when considering the entire division of property process. It is also an easy way to ensure that you get to keep the house after the divorce.

Which professionals do you need to hire through Real Estate & Divorce Process?

Firstly, you will need a divorce attorney. They will help create a real estate scheme that works for both of you. Sometimes, a divorce attorney might not specialize in real estate management. You must hire an exceptional divorce-savvy real estate agent who handles the property distribution of divorced couples. Since the court is involved, hiring a divorce attorney specializing in real estate distribution is advisable.

Conclusion

As we have already conveyed in the above sections, divorce and selling a home is a complicated process, and you may need clarification sometimes.

I hope we were able to answer your questions, and if you have any doubts, feel free to reach out to us.

This article should have answered the following questions

  • Will my ex get the house in the divorce
  • Who gets to stay in the place during the divorce
  • How is the house divided in the divorce
  • Is it better to sell the home before or after the divorce
  • What happens to real estate in divorce
  • How is the value of a place determined in the divorce
  • Are you in a community property or equitable distribution state
  • Should you keep or sell the house
  • Should you buy out your spouse's share of the home
  • Which professionals do you need to hire to get through this process
  • Real Estate and Divorce

Will my wife get the house in a divorce

  • Will my wife get the house in a divorce
  • Who gets to stay in the place during the divorce
  • How is the house divided in a divorce
  • Is it better to sell the home before or after the divorce
  • What happens to real estate in divorce
  • How is the value of a place determined in a divorce
  • Are you in a community property or equitable distribution state
  • Should you keep or sell the house
  • Should you buy out your spouse's share of the home
  • Which professionals do you need to hire to get through this process
  • Real Estate and Divorce
  • Will my wife get the house in a divorce
  • Who gets to stay in the place during a divorce
  • How is the house divided in a divorce
  • Is it better to sell the home before or after the divorce
  • What happens to real estate in divorce
  • How is the value of a place determined in a divorce
  • Are you in a community property or equitable distribution state
  • Should you keep or sell the house
  • Should you buy out your spouse's share of the home
  • Which professionals do you need to hire to get through this process
  • Real Estate and Divorce

Please get in touch with us at Kenna Real Estate; We are the Divorce Home Selling Specialists at 303-955-4220

How Much is My Home Worth?

Get an Instant Home-Value Estimate, and Sign up for a FREE REPORT

Saved Search July 13, 2024
18078
Listed
65
Avg. DOM
$376.53
Avg. $ / Sq.Ft.
$626,975
Med. List Price
18078 Properties
Page 1 of 1507
The content relating to real estate for sale in this web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST INC® Real estate listings held by brokers other than Kenna Real Estate are marked with the IDX Logo. This information is being provided for the consumers' personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. Click here for the full Terms of Use.
(303) 955-4220