Complex Property Division Questions in Divorce Cases
The family home — and what will happen to it — is sometimes the source of major conflict during the process of negotiating property division and dissolving a marriage. Spouses fight over questions such as:
- Who gets the house or our other real estate?
- Should we sell the house?
- How do we value the house if it is to be sold?
- How will it be sold?
- Should restrictions be placed on who can purchase the house or our other real estate?
At the Darwish Law Offices in Syracuse, we have extensive experience guiding clients through the emotional and financially complex process of marital property division. Attorney Diane E. Darwish and our legal team understand that property division is not just about the numbers and the dollar signs. This is especially true when the property in question is the family home or a family business. Emotional ties to the real estate or small business are very real and must be considered when negotiating the property division sections of a divorce settlement agreement.
We offer all potential new clients a complimentary initial consultation. Discover whether the Darwish Law Offices is the right legal resource for you. Contact our office to make an appointment.
Property Division Questions Relating to Family-Owned Businesses
Like the family home, property division negotiations relating to family businesses have both financial and emotional considerations. We can answer all your property division questions regarding splitting up a small business, including:
- How should our jointly owned small business be divided?
- What considerations go into business valuation?
- If I was the sole business owner and my spouse contributed no income or labor to its operation, will he or she get any share of the business?
The Collaborative Law Process and Property Division
The collaborative law process — or even basic amicable negotiation — can be extremely valuable in helping divorcing spouses reach acceptable agreements about property division issues such as the disposition of the family home.
As an example, consider the following hypothetical situation. A mother and father agree that the mother will have primary physical custody and the father wants the children to complete their upbringing in the family home. He agrees that the mother should have the house. However, the mother's lack of income would prevent her from obtaining a mortgage in her own name.
Via the collaborative law process or negotiation, the father may agree to keep the home mortgage under his name until the children graduate from high school. A second problem then arises, because the father may not be able to obtain a second mortgage for a house of his own. The mother may agree, in return, that the father should have a majority of the rest of the marital assets to improve his chances of obtaining a second mortgage.
This type of complex — but very workable — agreement would be rare in a divorce court setting. A divorce court judge would most likely order the house to be sold and the proceeds split. Through negotiation or the collaborative law process, however, divorcing spouses with creative and strategic lawyers can create customized property division agreements that meet their unique needs.
Contact the Darwish Law Offices
We are happy to answer your questions about marital property division during separation or divorce. Contact our office to make an appointment.
