Dividing Real Estate Assets In Texas During A Divorce
Real estate division presents very unique and nuanced issues in the wake of a divorce. Property has been particularly dynamic when taking into account reimbursement claims.
Depending on how money has been invested in property, there are rules to follow depending on what kind of reimbursement you can get. If payments have been made in a mortgage, then it has to be done with investment principle. In a growing real estate economy, you often lose value because you only get dollar-to-dollar reimbursement.
When it comes to capital improvements, one can make a claim that there is or will be an increased market value due to real estate investments and additions. For instance, you may have put $50,000 into a new pool in a new room that would increase the value by 100,000. In the current depressed market, however, it only raises the value by 20,000 — as such, you may have a reimbursement claim.
None of this takes into account the sales costs. This raises questions concerning when to sell, sharing of distribution of sales costs between parties and market value less projected cost of sale.
Ultimately, it is critical to have an experienced real estate attorney who understands these complex property division issues to help you determine value enhancement.
Property Division Lawyers Representing Clients Throughout Texas
At The Haston Law Firm, P.C., we have worked on these issues for more than 20 years. We collaborate with an extensive network of real estate experts to help you reach an ideal outcome in your real estate and divorce matters. If you are facing these or similar issues, we encourage you to contact us as soon as possible.
Call our Houston office at 281-653-7748 or send us an email today to schedule a consultation. You may also reach us toll free at 866-470-4816 from any location.