Transferring Real Property During or After a Divorce

Pierre Domercq Divorce

How is the family home and other real property handled in a North County or Carlsbad divorce? What do you need to know about the transfer of ownership in your house or other real estate during or after a divorce? Real property is part of the community property division process associated with any divorce. We are going to limit our conversation to assets which are “community property” in this discussion and exclude “separate” property owned individually by one of the spouses.
During any North County divorce proceeding there are strict restraining orders which preclude or bar either spouse from transferring, selling or otherwise disposing of real property or an interest in real property during the divorce process itself. In some cases, the court will order or the parties will agree to sell the family home and divide remaining equity. What happens if one of the parties is awarded the house?
The spouse who is not to retain ownership must transfer their interest in the property to the other spouse. This is usually handled by a legal document or “deed.” Once a party is the “sole” owner of the home they are often required to refinance it. This protects the other party’s credit and financial exposure in the event mortgage payments are missed or a foreclosure is begun.
In other cases, refinancing the home may not be possible for a variety of reasons. In these cases the spouse who no longer listed on the deed of the property will still maintain the potential for adverse credit exposure if payments are missed or in the event of foreclosure. How do you protect yourself?
The attorneys at Burke & Domercq have represented clients before North County Family Law Courts for decades. We ensure that all precautions are taken to protect the interests of both parties in these legally complex situations. If the home is not refinanced and payments are missed it is possible for the former spouse to take legal action.
Our attorneys can seek a court order enforcing the original orders of the Court to ensure prompt payment. In the event the party is unable to make payment we have several options including forcing the sale of the house or asking the court to reconsider the award of the asset. These are complicated legal issues requiring skilled and experienced North County divorce attorneys.
We invite you to review the recommendations of our clients and contact us or call 760-712-3741 to schedule an appointment. We will discuss the unique circumstances of your case and provide sound advice and counsel.
These cases require expert preparation of orders in the original divorce decree to protect the parties from these types of circumstances. This is another reason why it is so important to work with the experienced attorneys at Burke & Domercq if you are seeking a divorce in North County San Diego.