Divorce Number One Reason to Sell
Of the Four Ds, Death in a family, Debt, Divorce, and Down-sizing, divorce number one reason to sell a house. Many people when confronted with the prospect of divorce want to know how assets will be divided. How they will maintain their standard of living? Who gets the house? How can we sell the house fast?
DivorceNet describes the basics. “An Indiana court will grant a divorce based on any of the following grounds: the irretrievable breakdown of the marriage, a felony conviction of either party during the marriage, impotence existing during the marriage, or incurable insanity of either party lasting for at least two years. An “irretrievable breakdown of the marriage” is the basis of a no-fault divorce, which means that the court will grant a divorce regardless of blame and without evidence of wrongdoing. The other grounds are the basis for a fault divorce, meaning one spouse caused the end of the marriage.
“Indiana is an equitable distribution state, which means that the court will distribute any property acquired during the marriage fairly between the spouses, but the distribution doesn’t have to be equal. Both spouses have the right to argue that the court’s equitable distribution of property is not just and reasonable based on the each spouse’s contribution to the acquisition of property, when the property was acquired, the economic circumstances of each party, the conduct of the parties during marriage, and the earning abilities of both parties. The spouses also have the right to agree to a disposition themselves, so that the court doesn’t have to be involved beyond approving the settlement agreement.”
These issues make divorce a stressful time, even more so if there is child custody involved. I would guess the courts put more emphasis on keeping a parent and children in the house when it comes to settlement. Don’t forget debts are part of the process.
“In Indiana, parents have a duty to pay child support until the child is 21 years old, unless: 1) the child is emancipated before 21 years of age, 2) the child is incapacitated, or 3) the child is at least 18 years old but has not attended or enrolled in secondary or postsecondary education and is capable of self support.
“Like many other states, Indiana courts determine child custody based on the best interest of the child. The judge will consider the wishes of child and the parents, the living conditions of the child with each parent, and the relationship between the child, the parents, and other siblings.”
If you are going through divorce and want to sell the house fast, JT Integrity Properties is here to help homeowners out of any kind of distressed situation. As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.
Give us a call today at 260-202-2222 to let us know what YOU need help with!