Marriage vows, as well-intended as they may be, don’t always last forever. This also means that contracts and deeds signed during marriage may also fall apart.
It’s the court’s job to determine how the estranged couple will divide their marital assets. If you end up with the house, you may want to sell it for cash so you can start fresh. This leads to the natural next question, “Can I sell my house after a divorce?”
Let’s explore below.
Nevada’s Property Division Laws
Nevada is a community property state, meaning that property obtained during the marriage is generally split 50/50 between the divorcees. Some exceptions exist or may need further investigation, like for stock portfolios, businesses, or real estate.
Regardless, a divorce settlement in Nevada will generally pursue equal equity distribution. If you and your former spouse bought the house together, you might be unable to sell the property until the court finalizes the divorce.
However, if you owned the property before the divorce, you may be able to sell it. To do that, your former spouse’s name cannot be on the deed, and you will need a court order affirming your separate ownership. It also helps if the former spouse didn’t live in it or if it was a gift/inheritance solely to you.
Mutual Ownership Sale Considerations
With Nevada being a community property state, real estate purchased using funds and credit during the marriage is generally split equally. This means both parties have an equal stake in the property’s equity, even more so if both names are on the deed.
“Can I sell my house after a divorce if we both own the property?” You may be able to, but that will be at the court’s discretion. In fact, they may order you to sell the house and split the proceeds as part of the divorce.
At that point, you and your former spouse need to agree on a few things, which can be further clarified through a court order:
- Who will be staging the property
- Who has the right to sell the house
- How much the house is worth on the market
- Who, if anyone, lives in the house while it’s on the market
- Who will cover which ongoing expenses while the property is on the market
You may want to hire a real estate agent with post-divorce sales experience. They should be able to help you navigate the already difficult real estate market. If you do, choose one with a reputable track record who can give you references to related sales.
Forego The Market Hassle
“Can I sell my house after a divorce quickly?” With Next Step Offers, you can.
We offer cash for properties in as-is condition, so you won’t have to worry about costly repairs or maintenance. With years of experience buying homes in all kinds of situations,including divorce, inherited properties, or homes with multiple owners, we serve Las Vegas and the surrounding areas.
Are you ready to close this chapter in your life? Call (702) 389-1919 for a free, no-hassle offer on your post-divorce property today.