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Property Division And Home Sales During A Divorce

Real estate is one of the primary assets for many divorcing New Jersey couples. Although deciding who gets the china or a family car may be pretty straightforward, selling a home can be one of the most confusing aspects of the property division process.

Demand for real estate agents capable of selling a house during a divorce has become so great in New Jersey that local realtors are beginning to become certified as real estate divorce specialists.

“Over 50 percent of all marriages end in divorce and 70 percent of those cases involve buying or selling a house – or both,” a certified real estate divorce specialist said.

Although many couples receive very sound property and tax law advice from their experienced family law attorneys, some couples can receive additional real estate specific information from their realtors. “There are real estate and tax issues that are specific to divorce, and couples are not getting all the guidance they need,” another real estate divorce specialist said.

Certified real estate divorce specialists say that they know that they are getting into by taking on divorcing clients. “You have to prevent either party from feeling that their agent has chosen a ‘side’ in their divorce,” said a real estate consultant. “We all know the movie ‘War of the Roses’ – these situations can become highly volatile.”

Although divorce attorneys will vigorously advocate on behalf of their clients, divorce real estate agents choose an alternative perspective.

“It can be tricky to work for the best interests of both parties, so we represent the best interest of the house,” an agent said.

This makes it important to seek the advice of an experienced family law attorney to help advocate for your interests during the property division process.

Source: Baristanet Real Estate, “Selling Your House While Ending Your Marriage,” Carolyn Maynard-Parisi, 5/3/11