The investments you make in real estate—whether you made those investments for your personal use or to support your business’s goals—often involve significant value. As a result, these valuable assets can become a significant source of conflict if a couple decide to go their separate ways. What should people know about the fate of their real estate holdings in a Connecticut divorce?
Will the court divide your real estate holdings in divorce?
Connecticut law involves a broad definition of marital property. As a result, the court is likely to divide your real estate investments along with other property during your divorce. However, “equitable” or fair division of property is up to the discretion of the court, and a variety of factors may be considered when determining the fate of a piece of real estate.
For example, the court may treat a piece or real estate that had been in your family for multiple generations differently from real estate purchased during your marriage. The court may also be more likely to divide the equity of real estate holdings that you maintained, preserved or improved using jointly-owned funds.
Can you keep your investments after divorce?
Your real estate investments may be a key part of your finances, and losing those investments could have a significant impact on your future financial health. Thankfully, it is possible to enter the next chapter of your life with your real estate portfolio intact.
As a result, people who have invested in real estate holdings my be able to maintain that property by giving up other valuable assets in exchange. If you own more than one piece of real estate, you may also use this method to divide your real estate portfolio by distributing some assets to your spouse while keeping others for yourself.
What other options might you have for your real estate holdings?
If you choose not to sacrifice other valuable assets to keep your investments intact, other options are available. You may choose to sell property from your portfolio and divide the proceeds, or you could move forward as co-owners of the property.
When considering the fate of your real estate investments in divorce, you may want experienced guidance from financial and legal professionals. With assistance, you can appropriately value your investments and create a strategy that supports your future financial goals.