One of the big issues in modern America is divorce and real estate. I’ve had several clients who are selling their property, or wanting to sell it, and their wives announced that they want a divorce. In one case, they had already signed a purchase and sale agreement, and the husband was asking, “Can my wife kill the deal.”
Divorce and Real Estate
The simple answer is no. Assuming she signed the agreement to sell, if she refuses to sign the closing documents, she would be in breach, and the buyers could sue for specific performance. That could cost everyone a lot of attorney’s fees. It can be a nightmare scenario. Of course, divorce can cause devastating financial consequences, not to mention broken hearts.
Divorce and Real Estate
When it comes to divorce and real estate, there are many traps for the unwary. The legal issues should be handled proactively, and that probably means you need to talk to a sharp attorney who understands how to protect you. But there is a major reason to handle the legal issues proactively, and it is not a legal issue.
Divorce and Real Estate
You may know what the biggest trap is . . . if you have been through a divorce yourself. You think you know someone. You may have been married 23 years and sacrificed much of your life for your spouse and your children. You were loyal and always faithful. But one day your spouse starts saying things that don’t make sense and seems to become a different person–angry and demanding and wanting a completely different life.
Some spouses, not all, will become vicious and hire a junk yard dog attorney to take you for everything you have. This is the kind of dysfunctional spouse that also may seek to destroy you, although that is unbelievably mean and cruel beyond words. But many have gone through this kind of experience. It’s sad, and the spouse who goes off the deep end doesn’t seem to care that he/she is breaking their childrens’ hearts and imploding the entire family.
Handling the sale of real estate and actually getting the net proceeds voluntarily released by a bitter and unhappy spouse is no small victory. Hire a good attorney. Having your heart broken is bad enough, but not protecting yourself financially will have consequences for many years. Divorce and real estate is one of life’s touchy and difficult challenges.
Last Updated on September 20, 2019 by Chuck Marunde
