Most real estate acquired by either or both of you during your marriage is considered part of the marital estate and is subject to division in divorce. If one of you owned a property prior to your marriage, or inherited real estate during your marriage, any increase in the value of that property is also considered marital property. For many people, a house is the major piece of real estate in question. For others, there may be several different properties that need to undergo valuation so an accurate total of the marital property can be computed. The marital interests in real estate need to be valued and considered in the overall division of assets. However, that does not automatically mean all the real estate must be sold. Trade-offs or other kinds of buy-out arrangements may be possible if you are working with a knowledgeable lawyer.
The divorce attorneys of Hogan Omidi, PC, have extensive experience with real estate in asset division, including unusual properties or properties that are subject to unusual circumstances. We also understand how these properties are typically treated by family law judges. Our partner wrote the book on Colorado divorce and family law. We will advise you on the best way for you and your spouse to divide any real estate you own.
All Real Property Is Subject To Equitable Distribution
We have assisted with the valuation and division of many different property types in the Denver metro area and all over Colorado, including:
- The primary marital residence
- Second homes and timeshares
- Rental properties
- Commercial buildings
- Airplane hangars
- Ranch land and farmland
- Subdivisions and undeveloped land
- Mines or mining claims
- Properties with mineral rights
- Property affected by endangered species concerns or environmental issues
We can also handle properties in other states and countries.
How Will My Real Estate Be Affected By Divorce?
If the two of you must divide real estate, the simplest method may be to sell the property. Our attorneys can help you calculate things like appreciation or depreciation adjustments to anticipate what the actual value you receive will be, after taxes and real estate commissions or other selling costs. Our attorneys can also discuss the pros and cons of selling in connection with the divorce or keeping the real estate and selling later. It is not automatic that real estate must be sold in a divorce.
If one of you wants to keep a piece of marital real estate, it is also possible to offer the other party another asset or assets of similar value in exchange. This leaves some negotiating room to keep your real estate holdings intact. When considering tradeoffs, dependable valuation of the property is critical. We work with real estate appraisers and other experts to gauge current market value and other considerations.
We will sit down with you to discuss your goals for marital property division and determine how we can meet as many of those goals as possible. We are excellent negotiators and are frequently able to work with you, your spouse and his or her attorney to find a settlement you can both agree to. Our goal is to complete your property division with a minimum of stress and maximum benefit to you. If the two of you cannot reach an agreement, we are skilled trial lawyers and are prepared to take your case to court.