Understanding the Impact of Real Property on Your Divorce
If you are going through a divorce and worried about not only who will get to keep the family home but also about how its value will be taken into account in the overall property division process, you need a knowledgeable divorce lawyer with financial experience.
At the Diamond Law Firm in Los Angeles, we are able to offer the services of attorney Joseph Diamond, who is also a certified public accountant (CPA) with two decades of high-end experience. Contact us today to schedule a free consultation with one of our attorneys.
Pursuing Accurate Valuations Under Difficult Market Conditions
Real property is one of the primary assets many people own. Whether you and your spouse own a primary home, investment properties or any other real estate, accurate valuation of these assets is going to play an important role in your property division outcome.
Our firm works with certified members of the Appraisal Institute (MAIs) to determine the value of real property subject to division in divorce cases.
High rates of foreclosure have made it more difficult to accurately value real estate in recent years. Prices fluctuate drastically depending on the availability of foreclosed homes, and given the situation, most people are not willing to sell their homes in order to divide the proceeds.
We are skilled at making convincing arguments for valuations that reflect our clients' interests, backed by carefully documented facts and sound analysis under the principles of California law.
Taking Future Foreclosure Possibilities Into Account
The increase in foreclosures is also impacting many property division cases where our clients are concerned about being held liable for deficiency balances on home equity loans or lines of credit if properties assigned to their spouses are eventually foreclosed on.
This is particularly a concern if both parties' names are on the initial loan. Without a refinancing agreement — which may be difficult to obtain — both parties can be held liable by the lender even if a property settlement assigned the debt to only one party.
The lawyers at our firm are skilled at taking these issues into account and working through them systematically. Contact us to discuss your concerns about divorce and foreclosure.
