When talking about divorce, the first thing that might come to your mind is child custody. However, a divorce involves several considerations, making it a challenging process. Divorce becomes even more complex when it involves multiple properties. If you and your spouse have accumulated high assets during your marriage, such as real estate properties, dividing them during a divorce could be tricky.
Indiana courts presume that a 50-50 division is fair
Indiana follows the principle of “equitable distribution.” In most states following this principle, the court will distribute assets in a fair manner depending on each spouse’s circumstance. However, Indiana courts will presume that an equal distribution is just and reasonable.
Nonetheless, you can contest this presumption with relevant evidence. The court will then reevaluate the distribution of assets to consider your marriage duration, contributions to the marriage and your economic circumstances.
Valuating and dividing properties can be intricate
Valuing multiple real estate properties can be intricate. Market fluctuations, property conditions and locations play a role in determining its value. Usually, this would need a professional appraisal to ensure accurate valuation.
Once properties are valued, they must be divided. This could mean selling properties and dividing its proceeds, one spouse buying out the other’s share or retaining a joint ownership post-divorce. If you and your spouse could not agree on how you will split your properties, the court will divide them equitably.
Seeking legal guidance
Handling multiple properties during a divorce requires a clear understanding of legal and financial matters. Navigating the intricacies of family law and real estate can be daunting, but with the right guidance, you can reach a fair and equitable resolution. An experienced high asset divorce attorney can help you understand your rights, negotiate fair terms and represent your best interests.