
Immobilienaufteilung in der Scheidung
Deciding what to do with real estate during and after a divorce is not an easy decision. This is especially true if the property is still burdened with debt. In such a situation, it is important to act quickly and early on. Legal experts therefore recommend finding a comprehensive solution right at the beginning of the separation.
Analysis of finances is necessary
In order to find a solution, it is first necessary to analyze the finances. Couples who are separating must therefore first know how much their property is worth. A regional professional real estate agent can help determine the market value. But that's not all. All payment obligations must also be recorded in full so that can prepare a profitability calculation that takes into account the consequences of the separation. This includes, for example, how much maintenance is to be paid and whether any benefits of use must be taken into account. Only when these questions have been clarified can it be determined whether one of the former partners can take over or maintain the property.
Sale as a last resort
If it turns out that neither partner can keep the property after the divorce, the only solution is to sell it. This is because if the ex-partner has to be paid out and monthly installments are still due to the bank, this is often unaffordable. Even if the property is rented out, the shared income may not be sufficient.
If the divorced spouses cannot agree on a rational sales strategy, they may end up having to sell the property in a distress sale or a partition auction. However, these are the worst possible solutions and usually result in significant financial losses.
In principle, however, a sale does have advantages. In order to divide the property fairly, it is often easiest to convert it into easily divisible assets, i.e., money. This allows the two former partners to pay off their debts to the bank, while often leaving enough capital for a fresh start. A professional real estate agent is familiar with such cases. They know how to proceed in order to sell the property quickly at a fair market price.
However, it must first be clarified with the bank whether an early repayment penalty must be paid for the repayment of the real estate loan. The former partners should also check whether any taxes are payable on the sale of the property. This is not the case for owner-occupied properties.
Would you like to know what the best solution is for your divorce property? Contact us! We will be happy to advise you on your options.
Not found what you're looking for?
- https://de.wikipedia.org/wiki/Ehescheidung_ (Germany)
- https://de.wikipedia.org/wiki/Teilungsversteigerung
- https://de.wikipedia.org/wiki/Vorf%C3%A4lligkeitsentsch%C3%A4digung
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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