Can you be granted a final divorce if your marital home has not sold?
Question Details:
Planning a divorce; house and mortgage is in both names. Is there a possibility that I would have to wait until the final disposition/sale of the house/mortgage (only debt in this case) before obtaining an official/completed divorce decree? In this market, the final disposition/sale of the house could take years and time is of the essence to a completed/official/finalized divorce decree, really can't bear to wait that long before finalization of divorce.
Waiting for the sale of a marital home will not affect the timing of a divorce judgment. The home will obvously be part of the property settlement in the case, but there are various ways in which it could be handled. Because of the economy, so many people losing their jobs, and the decline in the real estate market, the question of how to handle division of real estate has presented new challenges in divorce. However, each case is different and you should consult with an attorney you trust for sound legal advice. Options to consider are whether one of you wants to keep the home and can afford to buy the other one out, owning the home as tenants in common until a later date in the future and then listing it, or listing it immediately and providing in the divorce judgment that both parties must accept an offer which meets certain requirements that are contained in the Judgment.
Please call my office if you would like to discuss your situation in greater detail.
You can be granted a final divorce if some marital assets have not been allocated. For example, the sale proceeds from the sale of a home. This happens all of the time; especially in an economy such as this where house sales are so difficult. A separate property settlement agreement will address this.
At this point, you should consult with a divorce attorney in your ares for a fuller explanation of your rights.
