Common Real Estate Mistakes Couples Make During a Divorce
Divorce and moving are two of the most stressful experiences people can go through, and factoring the marital home into your divorce proceedings can be especially difficult given the emotional and financial stake you and your spouse have in the home. Not surprisingly, many couples make mistakes related to their real estate as they’re going through their divorce. Some of these mistakes are very common, but a key thing to remember is that they’re also avoidable.
One of the most obvious mistakes is an error of omission: failing to list the home in the summons and petition. This can result in delays to your divorce, as well as jeopardize your ability to get an equal share of the property. Other paperwork errors, such as failure to use the proper legal description for the property, can also result in costly amendments and delays.
Another common mistake occurs when, if your spouse has been awarded the house, you believe you are no longer responsible for the mortgage. If your name remains on the mortgage, failing to correct this mistake can result in your being unable to obtain a mortgage on a new residence as well as make you liable if your spouse fails to make payments on your old house.
Although it is legal to change the wording on court forms, this can also get you into trouble if you make even the slightest error. Given the complexity of real estate law, the likelihood of making a mistake is sufficiently high enough that it probably isn’t worth the risk. Meeting with a lawyer to go over any modifications before submitting paperwork to the court is a safer bet.
Finally, before signing any paperwork related to your divorce, you should speak with an attorney. Particularly if real estate is involved, this can make a critical difference in the outcome of your divorce.
Uncertain about how the home you own with your spouse factors into your divorce proceedings? A family law attorney from Jakubowski, Robertson, Maffei, Goldsmith & Tartaglia, LLP can help if you are located in Long Island, Suffolk County or Nassau County.