NJ REAL ESTATE DIVORCE SPECIALISTS
Real estate divorce specialists are real estate professionals specializing in divorcing clients. While only attorneys can provide legal advice, real estate divorce specialists are trained in the legal and tax aspects of the divorce process as it relates to real estate, including obscure legal rulings, regulations, and tax implications.
Couples getting divorced need sound advice on the real estate issues within the divorce. A real estate professional specializing in divorcing clients works with both spouses to streamline the process and benefit all parties involved.
Divorcing couples comprise a large portion of the real estate market. Over 50% of all marriages end in divorce, and in over 70% of those cases, the parties involved are either buying a house, selling a house, or both. A real estate professional who understands the special problems and laws that govern the dissolution of a marriage can be a great asset at a very difficult time.
There are specific tax laws regarding the sale of a house in divorce that are not well known. The laws are structured to help save the divorcing couple thousands of dollars if they are selling their house.
For example, most people don’t know that in some circumstances, the spouse who moved out of the family home as long as six years ago can still take a $250,000 exclusion when the house is sold, even though the spouse who stayed in the house also took a $250,000 exclusion.