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"I get half the proceeds don't I ?" asked the divorcing Seller
    Wisconsin is a marital or what is sometimes called a community property state. Nationally, there are only nine states with this status including :: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas and Washington and Alaska is an "opt-in community property state"  where both parties have the option to make their property community property. This means that property and other assets acquired during the marriage with the exception of inheritances and gifts not co-mingled is the property of both spouses.    
       If one spouse inherits money and chooses to buy a sports car titled only in their name...it is solely their own car. If that inheritance is used to pay off a house owned jointly, the funds have been co-mingled and are marital property.
        When divorcing couples sell a home, the assumption by each spouse, is that each will get half the proceeds of the sale.  Many times, that may be true.   As the only Realtors in Wisconsin certified in divorce...we know that everything has to be "third party and legally verified" before any money changes hands in a real estate transaction and there can be no "assumption" that proceeds are divided ... more

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