Archive for February, 2011

D-I-V-O-R-C-E and Real Estate, Part 3

February 21, 2011

Continued from “D-I-V-O-R-C-E and Real Estate, Part 2”.

Using the same Due Diligence while working out what’s to be done with jointly owned real estate during a divorce makes sense. How can the parties know how much the property is really worth or just how big the debt associated with the property really is?

I’ve already suggested searching the title to know exactly how encumbered a piece of real estate may be by adding up all the mortgages, home equity loans, secured debt liens, tax liens, judgments, HOA liens, mechanic’s and materialman’s liens and any other liens discovered in the title search. Even though it may seem blatantly unfair to saddle the family home with business or personal or lawsuit debt, it happens often. I have had the misfortune to be sitting at the table when one spouse finally has to confess to the other about the second mortgage or equity line taken out without the other’s knowledge or permission. Very sad. (more…)

What Does “Home” Mean to You?

February 14, 2011
Tell us and you may
Win $250

When it comes to a home nowadays, many people are caught up in its value and preoccupied with market stats and the latest sales data. However, for many, a home is still a place for memories, family and love…
After all, home is where the heart is. Right?

Tell Me – What does “Home” mean to you

For some people, it could mean shelter, a place to raise a family, a safe haven, a place you can be yourself.

Others may look at it in simpler terms. It could be catching fireflies in your parent’s back yard with your kids, Christmas Eve at your grandmother’s house, taking in the sun’s warm rays while floating in the pool, a silent reprieve from the kids and other noises of the day, barbequing in the summer, anywhere your spouse is, watching movies in your PJs on a rainy day, snuggling with your dog on a Sunday morning…

Leave me a comment and tell me what the word “Home” means to you. I encourage you to share this with others. You may be surprised at the responses.

Win $250

We want to hear what the word “Home” means to you. Fan our Metro Mike Facebook page and write on our Facebook wall what the word “Home” means to you between Feb. 14, 2011 to 11:59pm EST on Mar. 14, 2011 and you might win $250. One winner will be drawn from all participants on Mar. 15, 2011 and notified via Facebook that day. Winner will have 48 hours to claim the prize via the instructions in their inbox before another winner is drawn. (more…)

D-I-V-O-R-C-E and Real Estate, Part 2

February 10, 2011
Continued from “D-I-V-O-R-C-E and Real Estate, Part 1”.

In order to protect themselves, their financial future and the financial future of any children, divorcing spouses desperately need to make sure they know what they owe (individually AND jointly), what they own (individually AND jointly), what each of them are getting into, what each of them are getting out of, and most importantly – what each of them may be getting stuck with… before it’s too late!

Note: In divorce, too late often comes early. (more…)

D-I-V-O-R-C-E and Real Estate, Part 1

February 7, 2011

Considering a divorce? Already involved in a divorce? Know anyone involved in or considering a divorce? Does the divorcing couple own a home or other real estate? If so, read on to learn about divorcing the house as well as the spouse.

In Georgia, the overwhelming majority of divorcing couples try to “settle” the division of property before going before the judge. Usually neither has an attorney, although they may have used the services of a mediator or “collaborative practitioner” to arrive at their agreement. The property agreement is ratified by the judge who has no choice but to believe that each of the parties know and understand what they have agreed to. In fact, the judge’s primary concern centers on any children involved in the divorce. Real estate and other property assets take a distant back seat to the welfare of children, and rightly so. (more…)