What steps need to be taken in a divorce involving a shared house?
January 27, 2023 | 50,00 EUR | answered by Friedhelm Krebs
Dear lawyer,
My name is Uwe Schröder and I am facing a difficult situation. My wife and I have decided to get a divorce. However, we both own a house together. Now I am worried about how we can best divide the house and what steps need to be taken.
The current situation is as follows: We have financed the house together and both of us are listed in the land register. There is no prenuptial agreement that regulates the division of the house. However, we have already had discussions and agree that we want to sell the house.
My concerns are mainly about how the selling process will unfold and how we can fairly divide the proceeds. Additionally, I am wondering if it is possible for one of us to keep the house and buy out the other if we cannot agree on a sale.
Therefore, my question to you is: What steps do we need to consider when getting a divorce with a shared house? How can we best divide the house and settle financial matters? Is there a possibility for one of us to keep the house? I would greatly appreciate your professional advice and support in this difficult situation.
Sincerely,
Uwe Schröder
Dear Mr. Schröder,
Thank you for your inquiry regarding the division of the shared house in the course of your divorce. It is understandable that you are concerned about the sales process, the fair distribution of proceeds, and the possibility that one of you may keep the house. I am happy to provide you with some information and tips on this matter.
First and foremost, it is important to know that in a divorce involving a shared house, various steps must be taken into account. In your case, where both of you are listed in the land register and there is no prenuptial agreement, the legal regulations regarding the division of assets apply. Since you have already agreed to sell the house, this is a good first step.
In order to sell the house, you must first agree on how the sales process will proceed. This includes determining the sale price, selecting a real estate agent, marketing the house, and completing the sale. The proceeds from the sale will be distributed fairly after deducting all expenses (e.g. agent's commission, loan repayment, etc.).
However, if one of you wishes to keep the house, there is the option for that person to buy out the other. In this case, an agreement on the value of the house would need to be reached and the financial settlement of the buyout process would need to be carried out. It is advisable to seek professional assistance from an appraiser or real estate expert to accurately determine the value of the house.
It is important that you also address financial matters during the divorce, such as the division of shared debts, pension entitlements, alimony payments, etc. A lawyer can provide you with professional advice and help you find a fair and just solution.
In summary, it is recommended that you communicate early with your partner about the division of the shared house and financial matters. If you have any further questions or need professional assistance, I am happy to help.
Best regards,
Friedhelm Krebs
