The real estate market in Colorado has shifted drastically in the last decade. Properties that you may have purchased long ago are likely worth far more than what you initially paid for the property. The change in property values poses unique issues to couples considering a divorce in Colorado.
One of the most pressing concerns in the asset division process for most couples is how to fairly split up the family home and other real estate holdings the family has. Even for the wealthiest family, real estate is often one of the largest assets in the marital estate.
From your primary residence where you raised your family, to your ski lodge or timeshare at the lake, your real assets likely represent a substantial amount of your overall marital estate. Placing a fair value on these major assets is critical to a fair outcome.
Contact a Family Law Lawyer in Denver, Co
Call Us (303) 691-9600Have a professional place a value on any real property
There are many prices or values associated with the average piece of property. There is the taxable value for the property, which serves as a sort of official value for the home. There is also the insured value on your homeowner’s insurance policy. Then, there is the amount of the mortgage that financed your property.
However, all of these figures can regularly be vastly inaccurate. They may not account for increases in property value or improvements you have made to the exterior or interior of your home. You shouldn’t take the estimates from real estate websites too seriously, either.
To get an accurate idea of what the current market value of your home is, you need to work with a real estate professional. Whether it is an appraiser or a real estate agent who lists properties in your region, real estate professionals can provide a more accurate idea of the price that your home or other real property currently represents.
Know what your goal is
Given that real estate represents such a significant investment, it is natural to want to ensure that you receive your fair share of value or equity from any real property. Maybe you want to stay in the marital home or keep the vacation house. Perhaps you just want other assets or cash in the amount of your share of the equity in the property.
Whatever your preferred outcome, the courts will make decisions based on your circumstances and the assets and debts you report. You may be able to reach amicable terms with your ex that include splitting up your real property. If not, the courts will make those decisions based on Colorado law.
Setting concrete goals and working toward them can help you as you divorce. Staying focused on the bigger picture is a way to avoid emotional mistakes that can have financial consequences.
Contact an Experienced Denver Property Division Attorney Today
Dividing real estate during divorce can be complex—especially when large assets are involved. Whether you’re navigating a high net worth divorce or working to protect your family home, the team at Hogan Omidi, PC can guide you through the process.
Explore how our property division and high asset divorce services can help you secure what matters most. Call us today at (719) 212-1985 or visit our contact page and schedule your consultation.
Why Hire Hogan Omidi?
When it comes to family law, experience and expertise matter. Here’s why we are the right choice for your case:
- We wrote the standard reference books on Colorado Family Law, which are used by judges and lawyers across the state. With this level of authority and insight, we know the law inside and out.
- We believe every case is unique. We take the time to craft a winning strategy customized to your specific needs and goals.
- Our firm has been recognized as a top performer in family law by multiple peer-reviewed organizations, reflecting our dedication to excellence and results.
When you require reliable, results-oriented legal representation, our firm is committed to advocating for your best interests.
HOGAN OMIDI, PC
COLORADO FAMILY LAW ATTORNEYS
At Hogan Omidi, PC, we take a deliberate approach that emphasizes civility and practical solutions over conflict and gamesmanship. We help clients think “big picture” and long term to identify what is truly important. Once you view the situation with proper perspective and clear priorities, the process becomes less stressful and more conducive to creative and sensible resolutions.”
