Understanding the Role of a Divorce Mediation and a Real Estate Professional in the Divorce Process
During our recent webinar, “Understanding the Role of a divorce Mediator and a Real Estate Professional in the Divorce Process,” which I co-hosted with Erik Brown, we delved into the importance of residential property in divorce mediation. One of the key issues we discussed was what to do when clients cannot agree on the value of their home. In such cases, I typically offer two options: a free real estate professional opinion or a paid appraisal by a real estate appraiser. Erik, with his vast experience in the field, provided valuable insights on the assessment of real estate.Additionally, I went on to discuss several property division options available to divorcing couples, including a buyout where one spouse purchases the other’s share of the jointly-owned asset, such as a house. I highlighted the importance of considering factors like refinancing eligibility and the type of ownership, such as joint tenancy or tenants in common. I also explored deferred sale, converting the property into a rental property, or selling it to a third party as potential solutions for property division.
During the webinar, I shared my approach to using the Equity/Gain Form to analyze both the equity on the house and the capital gains tax on the house, which can be used during negotiations. By educating clients on how to consider the house in terms of gross equity, net equity, and potential capital gains tax, I aim to help them make informed decisions during the buyout transaction.
I stressed the importance of a comprehensive settlement that addresses all the issues in the divorce, rather than just focusing on a single aspect. Through mediation, clients can work together to find solutions that work for everyone, leading to a fair and equitable resolution to their divorce.
If you weren’t able to attend the webinar, it’s now available for viewing. If you have any questions or concerns about your divorce and would like to discuss them with me further, I would be more than happy to offer you a complimentary 15-minute consultation. Please feel free to reach out to me at any time.
Erik and I wanted to express our sincere gratitude to everyone who registered and attended our webinar. We truly appreciate your time and participation, and we hope you found the information helpful. Thank you for making the event a success, and we look forward to connecting with you in the future.