If you’re divorcing in California, you may have concerns about how your assets are divided up. This is one of the most complex aspects of a divorce, and real estate division is no exception
Asset Classification – Separate and Community
California family law divides assets into two categories: separate and community. Separate property is an asset that is determined to belong to a specific spouse. Community property is owned by both spouses. After the assets are classified, they are assigned a value. Certain assets, though, such as a residence, may have both separate property and community property components. When this is the case, a complicated formula must be used to assess the correct value.
Determining What Is What
When dividing a substantial real estate portfolio, it is critical to have the right family law professionals determining which category the divorcing parties’ holdings belong in. If you and your spouse own real estate, then hiring an attorney-mediator with real estate expertise is crucial. You also need someone with strong accounting principles.
Our Certified Family Law Specialists are experts at dividing large real estate portfolios. They are certified by the State Bar of California and can trace separate property in addition to having expertise in accounting, divorce law, and asset and debt division. Carol Delzer is a certified family law specialist and a licensed Real Estate Broker with 30 years of experience. She specializes in helping couples divide large real estate portfolios and is here to help you.
If you own a large amount of real estate, then contact the Family Law Center right away to schedule a consultation with one of our attorney-mediators. Call us at 916-488-5088 or email us at info@FamilyLawCenter.US.
Family Law Center represents clients throughout the greater Sacramento area including: Sacramento, Antelope, Auburn, Cameron Park, Carmichael, Citrus Heights, Davis, El Dorado Hills, Elk Grove, Fair Oaks, Folsom, Granite Bay, Placerville, Rancho Cordova, Rocklin, Roseville, West Sacramento, Woodland and the counties of Sacramento, El Dorado, Placer, Yolo, and more.
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