Property division negotiations can play a significant role in divorces in New York. Discussing how to divide property and assets between spouses can be a difficult process for many couples. It is important for spouses getting divorced to understand how the housing market will impact their property division negotiations and what factors they should consider before making an agreement with their ex.
Dividing property can be challenging, especially for couples who own a home. Depending on the housing market, it could either be very easy to sell the family home or it could be impossible. Spouses need to keep the housing market and current economy on their radar during negotiations to make sure they are not creating a financial problem for themselves after the divorce has been finalized.
Property division may have a bigger impact on the divorce rate than previously known. A new study found that more couples are starting to file for divorce now that the housing market and economy is improving in the U.S. Researchers said that during the recession and collapse of the housing market, fewer couples filed for divorce because they were not able to sell their house or have the financial stability to live on their own.
Now that the housing market and economy has improved, divorce attorneys across the country have seen an increase in couples filing for divorce. As housing prices have increased and the interest rates have remained low, more couples thinking about getting divorced have decided to finally file because they have more wealth now than they did in the past.
Couples getting divorced need to be aware of how the housing market may affect their property division negotiations because it could have a much bigger impact on your overall finances after divorce than you have planned for.
Source: Los Angeles Times, “Divorces increase as improving economy makes split-ups affordable,” Stuart Pfeifer, Sept. 18, 2013