In many or most divorce cases, the marital residence is often the most valuable community property asset. As well, the mortgage is often the greatest community property liability. In those instances when one spouse retains the marital home, that spouse will generally have a specific period of time, as set forth by the court, to refinance the home and to remove the name – and liability – of the other spouse. Additionally, terms will be set to remunerate the other spouse for his or her interest in the home.
It is common for one spouse to remain in the home, particularly when children are involved. In many cases the process is relatively easy but in other cases there may be a variety of issues involved. In other cases the spouses may agree to sell the home and share the proceeds. Questions that commonly arise:
Despite the best interests of the spouse who wishes to remain in the house, the question remains whether or not he or she can afford to live there. After all, in most cases the home is not a source of income – rather, it is a continuing expense. Upkeep alone may be too much for one spouse. These details must be addressed prior to making a decision whether to keep the family residence. Contact our offices to discuss this in detail.
There are three common options regarding the marital residence:
One common reason why the community residence may not be immediately offered for sale is because of a the negative housing market. The parties may be in a position to wait it out rather than to take a loss.
If you are considering a marital dissolution, or if you seek post-judgment modifications, or if you have any other family law matter, the divorce attorneys at Yelman & Associates can help you. We are experienced and aggressive professionals who obtain results for our clients. We understand you may be going through an extremely challenging time in your life. We will help you in a most professional and compassionate manner. Most of clients are referred to us by other clients; this is a testament to the hard work and care that we provide. For a free phone consultation, contact Yelman & Associates Family Law Attorneys at (619) 282-1107, or (760) 480-8400.
. . . you went above and beyond the call. You were experienced, clever and did your homework . . . You researched and obtained more in court than what we asked for and we won, won won. A million Thanks. [UCCJEA]
I am exceedingly pleased with the results. . . your diligent efforts on my behalf will benefit my family not only now but in the immediate and long term future. I was very selective when choosing an attorney . . . I realize now how important that decision really was. . .[Divorce]
San Diego, CA
I had been through two attorneys . . . I needed a powerhouse in my corner. . .The true test was when we [went] into court . . . I walked out of the court room amazed with her talent and care. . . My only regret is that I didn’t have her from the beginning . . .
I am extremely appreciative for all you have done and continue to do for me. I truly believe someone was looking out for me when I found you to represent me at that horrific time in my life . . . You and you entire staff are the dream team and I am thankful for all you do!! Thanks to every one of you!!
San Diego, CA
Although I never plan to be in this situation again, I would recommend Yelman & Associates to anyone going through a divorce. Of the many lawyers I have encountered within the courthouse . . [you are] . . . one of the most competent, intelligent, and genuinely caring attorneys . . .
My wife and I would like to say thank you for the outstanding work you did for us. Words cannot give our appreciation justice . . . Your service and knowledge was second to none . . . We will proudly recommend you and your firm to anyone we know who may be in need of legal assistance.
San Diego, CA
Charles Kim Jr.
to set up a
Yelman & Associates
3333 Camino Del Rio South
San Diego, Ca 92108