Divorce not only involves a complex emotional and legal process, but also raises an important financial question: What about the family home? At Grupo Inmocosta, we're here to help you know what to do if you're in this situation and want to sell your home.
The first step is to know under what economic regime you were married:
Knowing this will help you understand your ownership stake in the house.
Even if ownership is shared, The use of the home may be temporarily assigned to one of the spouses, especially if there are minor children. This judicial authority does not prevent future sales, but it may condition them for a period of time.
If you are both owners and want to sell, you will need to:
In case only one wants to sell, a purchase agreement can be reached on your part to the other, or resort to judicial means to request the division of the common property.
Yes, it's possible to sell your share, but the buyer would become a joint owner with your ex. You can also file a judicial process to divide the property if there's no agreement.
If there is a mortgage, both spouses remain responsible for payment while they are under the contract. It's important to negotiate with the bank before selling or changing ownership of the debt.
If there are minor children, use of the property is usually assigned to the parent with custody. This doesn't change ownership, but it may delay the sale.
Not without their consent. Even if you're a co-owner, the right of use implies that the person living in the house must agree to the sale or wait for that right to expire.
You must pay the Land Value Increase Tax (municipal capital gains tax) and, in some cases, personal income tax on capital gains if the home was sold for more than it cost to acquire.
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Why choose Grupo Inmocosta?
Real estate group based in Torrevieja and La Mata.
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