Thanks you Jody Bruns, CDLP, CMMU for very informative post about working with divorcing couples. Bookmarked.
Jody Bruns, CDLP
Aurora, CO
Jody, you bring up some great points but many of us live in community property states which brings up another level in the divorce situation. Best idea as you mention, get some knowledge.
Thank you, Juli. There are 9 community property states and yes, those states have varying rules as well but still very similar with regards to marital/community property.
I once had a call from a gentleman who wanted me to come and take a look at his property. When I got there, he asked if I could hurry up and sell it for him before his wife got home. She was out of state visiting her sister...
I explained about community property and the fact that if both their names were on the deed, she would also have to sign in order to sell it. He was VERY disappointed.
Annette Thor
Westport, CT
Jody Bruns, CDLP
Aurora, CO
Jody Bruns, CDLP, CMMU Good post and all another reason why when we take a listing we have two actions we undertake:
Sellers are 'Tellers'!
Jody Bruns, CDLP
Aurora, CO
Good advice....I have found that one tends to be dominant in decisions sometimes and you need to make sure to communicate with both parties equally.
Jody Bruns, CDLP
Aurora, CO
Thanks for sharing this advice Jody, clearly a situation that none of us want to be in the middle of.
Jody Bruns, CDLP
Aurora, CO
Congratulations on the Feature! Thank you Jody Bruns, CDLP, CMMU for this informative post. I was aware of #1 but not #2. Also, I'd not considered the potential rewards of helping people during a difficult & emotional time in their lives.
Jody Bruns, CDLP
Aurora, CO
Great points all. Here in Arizona, a title officer immediately asks if they are married, etc so to figure out how to take title and who must sign a Disclaimer Deed so that the other spouse does not own a share of that property. The downpayment may be community funds, but that is for the attorneys to wrangle over. I always ask and have never had to be in the middle as the other spouse has to agree that they take no title to the property purchased by the other spouse. And #2, I always require both spouses to sign listing documents as I check the tax records to see who owns the property.
I have 2 couples going through a divorce right now and watching their documents like a hawk!
Excellent information to consider when helping clients.
I don't often recommend renting, but in such times of transition, detaching from assets can prove beneficial.