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Property Division in Charlottesville

Divorce is difficult enough without the added effect of division of property. What makes divorce proceedings even further complicated is the inclusion of real estate acquired during the marriage. Other family disputes such as the division of an estate can also be difficult to negotiate when a piece of real estate is at issue. If you are facing a dispute regarding the division or maintenance of real estate, it may be helpful to contact an experienced family law and real estate attorney.

Equitable Distribution

In Virginia, property division is referred to as “equitable distribution” in which all property owned by both parties of a divorce must be identified throughout the proceedings. During divorce proceedings, some spouses are unable to decide who will receive a certain parcel of real estate. When it comes to real estate, the easiest solution is to put the property on the market so that each spouse receives half of the sale value of the property. However, if one spouse does not want to sell the property, this may make things more complicated since that spouse must essentially buy out the other spouse’s interest in the property. Mediation and arbitration are often the best steps to take in a division of property during divorce, but if two spouses cannot resolve the issue, they may have to take this to court and let a judge decide what to do with the real estate.

If you are involved in a probate matter concerning real estate, you are also aware of the many ways that property can be divided. Certain real estate properties are often left to families without regard of the ability to divide property. When a parcel of real estate is left to many family members, it may become a complicated issue to determine how to sell the property and divide the assets if other family members do not want to sell the property. Again, mediation and arbitration are the best first ways to confront any real estate issues, but a judge will be able to rectify the situation if family members cannot agree.

MichieHamlett | Charlottesville, Virginia Family Law Attorneys

If you are involved in a difficult division of real estate, do not hesitate to contact the experienced attorneys of MichieHamlett. Our attorneys are well experienced in many different legal fields specifically relating to real estate and can advise you on the impact of a transaction based on both the real estate side and the family law side. This is a unique opportunity to see all sides of a real estate issue when you are involved in a family law dispute.