Can I Sell My Home During A Divorce In Colorado?

Posted by: @orson_hill_realty

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Can I Sell My Home During A Divorce In Colorado? In the state of Colorado there is no cut and dry answer to this question in Colorado. It isn’t often that both sides come out happy from a divorce. The goal should be both parties come out with the ability to start over fresh. If you have shared property, meaning that you bought and acquired everything within the home while you were together, this is sometimes divided equally between the two parties. If one spouse has bought the home before, they may have the right to keep the home after the divorce.

 

What happens if both parties want to sell the home during the divorce?

The answer depends on different factors, including the reason for selling the home, the status of the divorce proceedings, and the ownership of the home. Selling a home during a divorce can be complicated and emotional, but with the right guidance and support, it is possible to navigate the process successfully.

The first step to selling a home during a divorce is to determine the ownership of the property. If the home is jointly owned by both parties, then both parties must agree on the sale of the property. However, if only one spouse owns the property, they may be able to sell the property without the other spouse’s consent. It is important to speak with a family law attorney to determine the legal status of the home ownership and what is necessary to sell the property.

If both parties agree to sell the home, the next step is to decide how to handle the proceeds from the sale. If the property is classified as marital property or community property, which usually means that it was acquired during the marriage, both parties are entitled to a fair division of the sale proceeds. This means that each party will receive an equal share of the sale proceeds, or a share that is based on their contributions to the property over time. It is important to note that if one party contributed significantly more to the property than the other during the marriage, they may be entitled to a larger share of the proceeds.

Another factor to consider when selling a home during a divorce is the status of the divorce proceedings. If the divorce is not yet finalized, both parties may need to work together to sell the property. This may require cooperation and communication between the parties, which can be difficult during a divorce. If the divorce is already finalized, then both parties may be in a better position to negotiate the sale of the home.

In any case, it is important to work with experienced professionals, such as a real estate agent and a family law attorney, to ensure the sale of the home is handled appropriately. They can help guide the parties through the process and ensure that everyone’s legal rights are protected.

In conclusion, selling a home during a divorce in Colorado can be both emotionally and legally challenging. It is important to understand the ownership of the property, the status of the divorce proceedings, and the division of the sale proceeds. With the guidance of experienced professionals, however, it is possible to navigate the process and move forward with a fresh start.