Dividing real estate in a divorce adds stress to an already stressful life event because property, especially purchased together, can be a foundation of a relationship. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that dividing the proceeds of a sale equitably for all parties can help cover the down payment on a new home, assist an ex with relocating—and just grant both of you a clean slate. That sounds simple—provided the house is marital property. If one person bought the house before the marriage, that might not even be on the table. The majority of states are common law property states, which means that property one part of a married couple acquired is owned completely and solely by that person unless the title or deed is in the names of both people. A judge can order a divorcing couple to sell a house to cover outstanding debts and other expenses, in which case you’d both be left with less equity to divide. Check out below to see what sold in Northville Hills Golf Club in September 2021:
16068 Crystal Downs E, Northville: 4 bedrooms, 3.1 bathrooms, 4,005 sq. feet, 3 car garage, Sold Price: $787,000
Northville Hills Golf Club Home Sold
September 2021
45976 Tournament Drive, Northville: 5 bedrooms, 4.1 bathrooms, 4,755 sq. feet, 3 car garage, Sold Price: $939,000
Northville Hills Golf Club Home Sold
September 2021
Also, depending on the property and homestead laws in your state, you might have a situation where you’re divvying up just a percentage of the house’s proceeds—for instance, you owned the house before you were married, but both of you contributed to renovations. It’s not a fifty-fifty thing. If the home sale proceeds are part of your divorce settlement, you may not be able to finalize the divorce until the house sells. For more information on Northville Hills Golf Club, or similar Northville or Novi neighborhoods such as Pheasant Hills, Steeplechase and Woods of Edenderry, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.